abn amro upgrade, page-41

Fed Express-

While I think the "beards" made a mistake in issuing options at this time, there is no doubt they are probably the most competent management in Australia in getting a mine up and going, and from an operational point of view have nothing to prove.

In the long term their mistake will have no effect on the SP. But I feel some sympathy for people who bought in recently , to have the beards stuff up the sp run. But it was probably stuffed up anyway by the (premature?) release of details in the ABN AMRO report which mentioned $40m. which in itself frightened and confused many investors.

What we have only just found out is that the $40m is for doubling the mill output to a potential 20000 tonnes per annum. So a dilution of the SP is not a problem here at all. And its true that lead times for ordering things like ball mills have increased and it needs to be ordered now, before there is a cash flow.

All this fuss will soon pan out to be an extremely positive thing. If it works out add $1 at least to the Share price, $2.50- $3 in a couple of years Id say.

my recommendation to you Fedexpres is to buy back your AGM shares in the next couple of months.
The Sp will smash $0.72 when the ball mill arrives in June. Thats a certainty.