Ann: ANW Company Update, page-4

you sure about that?
Lets examine some of the facts:
- no cash in the bank,
- bazillions of shares on issue
- 3.5 years until notional production of coking coal, good luck with permits.
- mine is good for 10 years which is miniscule
- about 200m underground and they are going to do a conventional pit? good luck with the PFS/DFS
- going to dig it up and train it from newcastle to brisbane is the plan ? good luck with the PFS/DFS.
- they only own 40%

the costs involved here will be astronomical for a 10 year operation. the rail loader alone will cost more than the MC of the whole company. All built against the coking coal price staying high and the AUD staying low...... to call this a strategy is being very generous.