Ann: Chairman's Address to Shareholders and A, page-9

re: Ann: Chairman's Address to Shareholde... There was a fair bit of Q & A on the subject of the sale process. The Chairman stated that the board has a view of what constitutes a fair offer, clearly there will be a range of offers. What was reiterated was that if a fair/reasonable offer was not recieved then the company would move ahead with their growth plans. Having reduced debt and operating costs and taken operatorship of 90% of their assets they believe that the company is in a very good position to grow. In terms of value the TNT acquisition added $20m to the value of AMU assets on the balance sheet, this is not reflected in the sp, does that mean it does not exist ? Further, as i said before as a result of taking control of these assets AMU claim to have identified significant potential reserves of a low risk nature in the order of $100m , would you suggest they just give this away having only just put the company in a position where it can exploit this potential ?

IMO shareprice is largely a measure of sentiment not of true worth/value. With regards to sp many companies are either over or under valued. There is often little correlation with the true value of assets.
Dont get me wrong, i would certainly prefer to see the sp much higher than current levels.