Ann: MD's Presentation at AGM, page-6

agree with you 100% Mulac

you forgot to mention:

1. its close to 100% internally funded
2. the reserves/resources don't incld Cassini
3. Cassini aint covered by the original wmc deal
4. in abt 18-months, the offtake deal with (now) bhp - expires (or is at least up for renegioation !)
5. they have left "developed ore" - to fund the restart of Mariners/Mitel .....

for circa 15-20m .....I rekon this is a rather nice way to "wait" for the eventual rebound in prices ....

rgds
V_H