Ann: Cockatoo Island Project , page-3

Well.....i am dumbfounded.....i honestly thought this was going down the gurglar. Well done tony..shouldnt have doubted you. Hopefully everything else gets finalised without too much hassle. Coal and iron ore companies are struggling at the moment. They have been telling me where i work october is going to be a testing month with coal prices. We have a budget of a billion a year and we are parking up machinery because we cant afford to repair multiple failure with equipment this month. It would have to be worse with the small players. Putting this in context with plv shows how extraordinary the effort has been to keep this company alive. I still expect a recovery late this year. Management have told us that they have been advised to budget for coal prices around 126 dollars for next year. fingers crossed we dont have any more dramas

Pete