Ann: FULL YEAR RESULTS ANNOUNCEMENT , page-17

@chim; jamie very happy with current business outlook.

they are well cashed up and new contracts in the wind.

re cons mins; funny thing is, they used to be on a month to month retainer, before rql was reversed into repcol. cons mins actually asked rql if they could get onto a contract, so rql obliged. now, given that commodities have been smashed, it's in cons mins interests to stay on month to month retainer, tho rql should give market an update on this fact. they still paying every month but right now, renewing rql contract is not a priority for cons mins as they need to secure forward contracts for manganese.

market obviously spooked by nmg and the deferred renewal of cons mins contract, but yes, market will certainly wake up when cons mins renewed and a few new contracts are awarded.

imo, this is one of the best long term growth stories in the market.

fy12 should be even better for rql as capex will reduce by about 60%, jamie budgeted for around $10Mil - $12Mil. fy11 was $34Mil+ i believe.

rql micro story is fantastic, just a shame macro picture a bit painful right now. hopefully some big contract wins underway with a nice little market update and we'll see it breach the $1 level over 24 months .. as long as euro doesn't blow itself up!