Ann: Quarterly Activities Report, page-2

Hi all
first I would like to say I hope we don't lose Ed completely, know we have had our disagreements in the past but always good to have different points of view, help keep you in check.

on the quarterly can't see a figure for sales for the quarter so might have been worst than I thought. The figure on page five of $500k was that talking about just europe sales or all non china sales? Didn't read that clear to me.

great to see a number of projects happening at once in china this might help iron out some of the lumpiness in the sales. The work in the south west and south china sounds very promising, I take this two projects as the $50 to $100m projects discussed before. Would be nice if the company could realease something along the lines of if successful with trails this will lead to $50m of work over the next two years but I don't think this will happen , they might never be able to realease winning a $50m contract as looking like each stage will come at different times and depending on how the other stage has proformed. Shame really as other non holder really don't understand the value so no major head line to draw in investors to drive the price but as the money flows in from these the market will see to bigger picture and we will be for our next re rating.

with the work being down on the southwest China this along with the slides from the other week basically saying phoslock best option, will hopefully result in the amount for phoslock being produced to increase significantly helping drive down the costs so we can tender more aggressively on other projects to win more work.

look farward to any more insight holders might be able to give if any attending agm, mr Zhang presentation on the china business should be intresting

thanks
mickem