Ann: Redmoor JV Partner Confirms Funds to Complete Option Payment, page-14

This announcement will have limited impact on the market. Everyone is waiting for the updated scoping study on the Lochinvar coking coal project. That is the real company maker that will cause a re-rate and push the price north. The rest are just puff announcements that the market won't pay attention to.

Although we have traded higher over the last few days volume has been on the light side. I expect the price to drift lower until they announce something more substantial which has tangible value. I am not having a go at the company, just expressing my views.

s.loeb