The Company's principal objective is to become a successful mineral sands mining company. It intends to be characterised by, and committed to, applying the Company funds in an efficient manner and providing above average and sustainable returns through both capital appreciation and the payment of dividends when in a position to do so.

• Short Term: Advance the Murray Basin projects in Victoria by identifying a process flowsheet and marketing opportunities to allow the Company to advance to Feasibility Stage, and if economically viable, commence a mineral sands development to establish early cash flows. Continue to drill the prospective Eucla Basin and other Murray Basin tenements;
• Medium Term: Expand the mineral sands operations by building reserves within the extensive Victorian holdings. Define resources at the Eucla Basin, Gascoyne, Queensland and other Murray Basin projects to diversify operations and market opportunities; and
• Long Term: Develop a capacity to independently access, develop and operate mineral sands opportunities in Australia and pay dividends.