chip away, page-34

For goodness sake, traders sell into a good announcement and suddenly the coal is useless.

The transport issue is known and we can agree that that needs a solution.

The company plans to target a high quality seam and develop a low tonnage underground mine as a starter operation and that is a bad thing?

The coal in that seam reconciles with the export quality out of Richards Bay. The Indians will buy it.

One step at a time, lets see their diversification strategy, the updated JORC and the Specimen Reef assays. They ALL contribute to the company's growth.

As for profitability, the current coal price (just like IO last year) is a noose around the necks of many producers, irrespective of the coal quality.

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In the interest of disclosure, I have taken advantage of recent movement to lock in some profit and reduce the average of my core holding.

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All of concerns that have been discussed here today were known beforehand. What is new is :

- Seam 4 has coal good enough to export!


GLTH