re: Ann: Agreement for first South African co... I can see the...

re: Ann: Agreement for first South African co... I can see the Appalachian American coal mine doing well and the upgrading with a partner makes sense. In South Africa coal mining is very tough with the CZA share price down to 9c from $3.00, so the market greeted the recent coal fines news as neutral.

At Phillipson, Far North South Australia, we still await news on coal contracts to SA Power Stations. Leigh Creek that was reported to be running down in 2002 still seems to be sending long trains South.
We know selling Sheep and wool at the Ingomar Station is going well but profits have fallen away from 2012 peak levels. This was a good purchase by our MD 'Farmer' Brian Flannery.

The market is still concerned by the delay in the court case versus Bayan due in Singapore, first mentioned in December 2011. It seems Bayan's delaying tactics have left it still floundering in WA over their frozen shareholding in Kangaroo Resources.