Ann: Hanlong Investment Settlement Update , page-10

Hi Fontenay,

Yeah a week on the sidelines gives you a chance to freshen up!

I gotta agree with you regarding the long lead items and the 20mt mine plan - was pretty optimistic of the team. Mind you the Moly price was through the roof and the GFC was barely on the horizon, the share price was well over $5 as well...how things change.

Where can i find the info. re: fat bonuses, would like to check out?

I talk to the company a fair bit and they give me plenty of confidence as to the Hanlong deal coming through, whenever timelines are missed you can't help but feel let down. That said when your dealing with our Chinese friends the same urgency does not always apply (particularly with their banking sector) however i firmly believe announcements made in April will confirm Hanlongs commitment, once their $200m hits the bank we know the $500m financing is a formality. And of course let's not forget about the iron ore...i would not be surprised if the 6mt resource expands as drilling continues.

Keep the faith, plenty of good things to be announced over the next 5 weeks.

Cheers,
DBM