Ann: Quarterly Activities Report , page-33

Wonder how many have read the Q report before -commenting.
My opinion, there are more + signals and situation has improved.
1) To start - :
Sampling is a shock, no doubt, should be redone which will take another 3-4 months before result
2) Production will not start before Q4
3) Options will be 0 !, won't make it in time

+ news

1) RP improving, $ 150 feasable, so this is no restriction for ramping up production
2) Not only interest from NZ and India, but China shows its interest. Might follow Iron ore situation, we all know chinese are or will be short of anything. This will put a lot of pressure on India RP prices will continue to ise, but moreover, many more partnering opportunities OR TAKE OVERS will occur.
3) Downstream processing is capital intensive, but more profitable. Compare this to magnetite process, offcourse they require a partner, but they need a partner anyway for capital and management assistence etc
4) Bayovar comparison, this deal puts a totally different value on Wonarah, read between the lines, in other words >>$2-3 p/s
5) TSX and Namibian listing will create more interest

Down the line there is no question anymore if we will go into production ( note, some people were convinced there would be no production at all ), this is a matter of time and production will start before year end.
Much more important is that interest have increased strongly in the resources and am convinced RP will follow iron ore, more specific magnetite history.
It will take some more time ( meanwhile options are zero ), which does not suit us all, however between the lines there is much more on the horizon then anticipated by many holders!