it does not work commercially, page-19

Mango,

Point 1. Patent 'improvements' keeps the technology proprietary to some degree.Whether it has been worth keeping proprietary adds to the mystique but there has been little by way of commercial return over that time period. Just more capital raisings.

Point 2. Presentation at the Kelvin Club prelisting.

Point 3. I refer you to the Annual Reports since listing for the multitude of projects that have not gone anyewhere.

Point 4. Gold has not been recovered to date. You assert that it maybe at some future date. There is no demonstrable proof that this will be the case.

I also note your comment that Ivanhoe has been waiting in the wings 'until commercial aspects have been resolved'. They have only been waiting for 7 years so far!

BSM going to Zinnifex (sic!)is a relief to most BSM shareholders I would suggest.

Upscaling in the real world is the ultimate test and one in which finance should prove elusive IMO!

Now you guys should encourage me to bag INL some more. It has done wonders for the SP!LOL

Cheers,TAS