company update, page-7

Hi Anna, we certainly did (make some very good money).

not too many people realise HGL owns around 30% of HRS who own 60% of TCM. HGL is a major shareholder of GUL and both HGL and GUL own coal EPC's next to one another in the Bowen Basin.

the announcement re TCM strategic investment by China Qinfa Group Limited and the benefit from QINFA GROUP’s extensive experience supplying coal in China, the 30% investment by FLE (Logistics company), is setting up the Hudson Group very nicely. Directors are currently presenting at the China Mining Expo.

we also don't know who will become involved in HGL/Bundaberg Coal Pty Ltd 50% tenements. they are sitting on one tenement which is next to NHC and Waratah, both have announced chinese getting involved. this is one I'm keeping an eye on.