Ann: Investor Presentation , page-3

Hi - at last some sort of response from the company. The company very clearly indicates its frustration with the undervalaution in this presentation. I like slide 31 - check out the NPV estimate for Apurimac alone - US$1.1bn, not including anything for Cuzco. Ex the cash in the bank the current market cap implies a 54m valaution for Peru and Berau, the Indo coal. With c. 28mt JORC resource in Indo, valued at US$1 a JORC tonne....this stock is ridiculously undervalued. I will let the market speculate as to why the company has put this presentation out now, but they must feel vulnerable with the share price not discounting the huge strategic value in the Peru asset properly. My price target is >A$3/per share