Hdcob and all, Business has been reasonable over the last year...

Hdcob and all,

Business has been reasonable over the last year or so although not as good as during the boom of course. I’m retired now and whilst retaining at present around 60% of the shares I don’t play much of an active part of the day to day running. The two younger directors currently in the process of buying me out are certainly working harder to develop the business; however, having said that we are still expanding into overseas markets such as the USA South America and Africa.

Link to ADE site if any interest: http://www.ade.net.au/index.php?about

The big miners are still moving more material particularly Coal and Bauxite even if at lower prices than the past and of course progress continues. The Adani project at 60 M Tonnes PA for 90 years is a fair amount of coal and investment in Queensland. I’m just not sure how much of a benefit it will be to Australia in general, not that it matters much as the various governments have long been selling the farm beneath our feet.

http://www.adanimining.com/

In regard to PEP 11 one would have to think that Santos had a few savvy geologists and they walked away. Also Phil Kelso is no idiot and I doubt he would have let the project go if he thought it held any real value. However, as past history has shown money can be made and lavish life styles provided for company directors on the strength of even the weakest of stories.

Of course some things are always a given such as gas and oil seepage on a prospect. Stick around long enough and you will hear them all it’s just all so predictable. A bit like convincing the public to do something stupid like going to war. Any day now I’m sure we will be hearing about Russian soldiers throwing babies out of hospital incubators or such like!

Still if others have no problems with directors without integrity spewing bull sheet stories to squeeze a quid out of the Bourse who am I to complain. We have a common saying in Yorkshire: A fool and his money are soon married. Nuff said.

Cheers and very best regards: Andy