Ann: Market Update, page-7

noble does indeed appear to be disproportionally associated with the reasons Res is here- both good and bad

had they showed greater enthusiasm for supporting early funding and getting this project up and running while leaving more than crumbs for equity holders- we would already be producing

after that they did support the raises required- necessitated in part by their efforts/success at stonewalling.. ah the wicked and sticky webs in which shareholders have been bound

same said for their shenanigans in using a not so sharp pencil for accounting interpretations- glencore were clearly more adept at wriggling out of tight places.

but my opinion is such that the "agreements" noble signed with Res over the yrs were well weighted in their financial favour,, ensuring that any deal keeping noble chugging along will certainly be supportive of Res finally becoming a significant coal producer

having an early win for the newly assembled political certainly wont do SA any harm either...