agm, page-39

Crikey I certainly picked the wrong time to buy yesterday, damn.

Anyway I managed to get to the agm after all. I couldn't stay very long so I probably don't have to much detail to add other than what's already known but here goes.

SA -
* About 78 drill holes into the Waterburg 1 depoisit, very structured and spaced accourdingly.
* very close to infrastructure being 40km from nearest power station.
* new power station to be completed by 2011 called Medupi.
* The Waterburg deposits account for about 40% of SA coal.
* Great exports ports and access via rail to Richards Bay and Maputo.
* Regular updates on the drilling that started in Sept 08 to be ann when they come to hand. I didn't get an exact date unfortunately.
* Paul emphasised the operation is low cost.
* Drilling that has commenced has uncovered bore water which will be required for the operation.
* Only one other major competitior in SA.

Tas-
* Aquired all tenements apart from 1 small license at Jericho which is still pending.
* Still to determine the exct type of the coal before planning any drilling program.
* Again infrastructure is good with rail lines practically passing through the tenements.

Uranium -
* Taking a conservative approach to Cameroon.
* Will send a small team of geologists there to scope out with some aerial mapping done.
* Not really dorment but not very active due to current market conditions.

What I really got from the presentation was that they are super confident in the resource they have and that the current sp doesn't reflect where the progress of the company is at the moment.

Also that it is a low cost operation which is just as important as the resource to keep any expenses to a minimum.

I very happy to sit as many other are here for the long term and believe we are sitting on a humdinger.

Sorry I don't have much else detail to add as I was a knob for forgetting my pen as I was in a rush. I also did get to ask any questions because I had to do the dash for cash back to work.

Cheers