Consolidation, page-32

Can't be far off - it made sense to avoid any possibility of a tax driven pre 30 June shareholder exit though the continued delay in relisting probably indicates that a pre 30/6 relisting was never a real possibility.

It will be interesting to see what stance long trapped shareholders will take - is the silica project sufficient to encourage many to stay and see what develops or will there be a rush for the exit. As I have indicated I like the resource/project based on what has been disclosed there is world demand and it is rising, it is close to infrastructure and it will be a relatively cheap capital requirement to go into production. There are of course the issues of the lease tenure, mining rights etc and shareholding is somewhat concentrated now so will information flows to ongoing smaller shareholders be minimal.

I would expect relisting will happen before the end of the month but time will tell.