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Agreements

AuDAX Resources Ltd

4/02/03

AuDAX Resources Ltd and Newmont Australia Ltd have signed a Heads of Agreement for an option to form joint ventures over a portion of the Bronzewing South Exploration Licence. Newmont can earn the right to exercise an option for a 31% interest from AuDAX over a portion of the Bronzewing South licence, if it spends $10m within five years. The agreement will also provide AuDAX with $5m in working capital by way of a placement at a 20% premium to the 20 trading day average market closing price.

Herald Resources Ltd

7/02/03

Has reached a three year option to purchase agreement with prospector Kevin "Mick" Pavlinovich on a group of gold exploration and mining tenements at Kintore, north ofCoolgardie. The 276ha adjoins Heralds 100% owned ground of 449 ha.

Safe Effect Technologies Ltd

7/02/03

Has entered into a Memorandum of Understanding to acquire the controlling interest of up to 60% in a manufacturing and distribution facility in Thailand to be used for the manufacture of its "wet brake" products.

Woodside Petroleum Ltd

5/02/03

Joint venturers in the Geographe and Thylacine gas discoveries in Victoria's offshore Otway Basin have agreed commercial arrangements aimed at a joint development of the fields. Woodside, previously operator of both permits, will continue as operator of the new joint venture.

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