the greatest day for exploarion companies

.... is the day you lose the exploration tag and become a producer.

I wish I could enjoy the loading CoalKing:(

I wanted to do a Twiggy tomorrow waving a Pluton flag on the ship, unfortunately I will be road showing instead on the east coast cause Satori said I had to..... :)

It is always a great day when an explorer becomes a producer (officially by loading your first ship). The chances of getting into production when you float a small exploration company are very, very small. Has to be a percent or so.

There are only a handful of iron ore producers in Australia....we may now be the smallest but we are in that select group.

Plenty of much higher capitalised companies that are not there yet, and likely never will be.

It has been a very tough couple of years for all of us but shareholders can now look at the daily iron ore price movements as actually meaning something......

Will still be a tough couple of months or so as we fund our way to steady state producer, and to prove we are worthy of producer status, but we will get there.

We should have been dead a few months ago and now I look at Platts price daily..... certainly a different type of stress working out profits rather than your own existence!

To all of you I thank you for putting up with all the crap we have put you through, to the non-believers I hope we are proving ourselves to you. I won’t be critical of those that said we would never get there because history is on their side..... most juniors never get there.

As for me? I am truly thankful I have a great Board and staff to make tomorrow very special to me. It is always hard for a founder of a company to see the bad times, there is always a guilt feeling and criticism feels more personal than usual. If it wasn’t for me people would not have lost money, but conversely if it wasn't for me there would not be a Pluton. But having said all that NOONE will be feeling as good as me tomorrow. Noone at all.

I am planning to have a pear cider (hehe) at 6pm tomorrow at Sydney airport to celebrate the Navios Horizon anchoring off Cockatoo Island.

I hope in some way it is a special day for you too.

Cheers, Tony.