2009 report and 2010 onwards

You have probably already read this on the last page of the 2009 full year report, but it's a great summary. (Quote at the bottom of the post)

- Safety was improved a lot in 2009.
- Costs of production were decreased by 5% over 2009.
- Record production in 2009.
- Cash reserves are ~$250m.

- 2010 will focus on fundementals, I guess that means a similar focus to last year.
- 2010 will explore opportunities for growth. So we won't receive a dividend from the cash reserves but we might see greater gains if MRE expands successfully.

I am happy with this.



FROM THE CEO

Minaras performance over the past twelve months has been strong in a volatile and uncertain market. We have recorded a good profit, delivered record production, continued to reduce costs across the business and increased our cash reserves.

2009 was a year of consolidation. We focused on the fundamentals of safety, production and costs.

In 2010 we will continue to focus on all the fundamentals and explore opportunities for growth.