cancelled meeting..what a waste of money, page-14

DDzx,

I certainly appreciate your contrarian point of view that is very well researched. May I however point out the contradiction of your argument that when you raise concerns with Rockwood you have also highlighting the unique positives of Orion Downs. We are talking about a small mine that is very cheap to establish and operate - was able to avoid producing an EIS and will commence production within 12 months. I know previously you have commented you feel this asset would sell for roughly $125M or produce around $500M over ten years.

I therefore have trouble with your contradiction of speaking very highly of MDS yet at the same time saying "Good luck with this horrible company called Endocoal".

As previously said - in these uncertain times, where finance for larger projects is difficult - MDS is the best asset I have seen in a junior coal explorer. MDS by itself justifies a share price double current levels.

Great points you make about the seed capital getting in at such a low level but you do see this happen a lot in bull markets. I think you have hit the nail on the head why EOC did not run during the coal bull market. Personally I would not have purchased in the IPO with that sort of difference, and entered EOC far later in the game at a big discount. In any case thanks for highlighting it.

I am the Iceman!