annual report, page-2

thanks for your well considered post plough. i will get off my chops are see what the go is soon. Been watching CXM vaguely for a few weeks.

For me one worrying prospect is the iron ore forcasts (ref allan mitchell P43- fin review this weekend) -forcasting a softening of iron ore prices from the start of 09

What sort of Iron Ore prices are required by CXM to reward holders adequately??, how much softening in price could be tolerated by CXM?

For me to to jump on personally i really want a production timetable and a few more contracts- wild exploration program would also be nice.

Quality issues, and the mines small size are also a worry as they seem to be geared toward high iron ore prices. small margins on magnetite compared with heme.

Nothing worse than setting up in a boom and then producing in a trough when you factored in a boom.

But

As you said- LOCATION LOCAION LOCATION and heaps of potential for big finds in my opinion. Position relative to adelaide, etc also advantageous for staffing and transport as compared to outback WA.

Still uming and arrhing on this one

Cheers