who went to agm , page-2

Was there today... very impressive team that has been assembled and the mood of the meeting was extremely positive.

Daniel Tenardi didn't do the usual powerpoint presentation (although one was produced and lodged I see) but rather outlined the reasons he joined BRL (he had several other job offers at the same time) and it was a very honest and sincere talk he gave.

He mentioned that it was a 'stroke of genius' for the company to have picked up the tenements they have, and he should know after serving many years at Alcoa.

They then looked at a flyover of the tenements and procximity to port and other infrastructure and discussed plans for developing a stage 1 DSO (low Capex - dig it up and ship it out) operation as early as mid next year - this was what grabbed my attention.

David McSweeney spoke about the similarities between the bauxite industry and the iron ore industry before it boomed a few years ago - this was quite incitefull I thought.

Interestingly, the outloook for bauxite as a commodity is very strong as Chinese stockpiles are depleting very quickly and new supplies are coming on very slowly (in fact a lot of illegal Indo operations have closed down recently)

Basically, the Board believes that the timing is perfect and is expecting a VERY busy end to this year and beginning of next.

Tey are expecting an initial JORC resource (approx 10mt)to be defined later this year and the overall target for full-scale development is somehere in the region of 200mt - remembering that this is high-margin DSO ore.

BAU is definitely my stock to watch in 2009.