fail grade in shareholder communication, page-17

Hi Nathan, I would not bother holding this stock if the upside was only back to $1... u must kidding that we producing 70Mil in PROFIT pa and be valued at only 90 Mil.

Forward PE of 1.2... no way. We looking at several dollars ps once the market realises they have got this one wrong. Then we should be rerated at least at a forward PE of 10. As it has double upside the following year. Approx 500Mil... it 45M now. On this particular project between IFE\TRF...

Fair value will be given in the next few months- the closer we get to End Game as Ian calls it. Meaning Iron Ore out the ground and on the door step of the Chinese.

It looks like the market cannot work out this Coy- it very frustrating to us LT holders. Some Coys are frustrating like SSN, MHM we wait and wait until finally the market sees closer to true value. Although I still do not think the 2 Coys mentioned are still anywhere near fair value.

The market is a strange beast.... Cheers Jay