Ann: Suspension from Quotation, page-7

Its a fair question - resumption of trading. I genuinely believe it will only be once they have completed another capital raise. This raise will probably require the ship booked for 2nd week in April to be loaded and have departed prior so as to give investors some more clarity on the true state of the books.

I base this only on scant information and my interpretation based on my experience. I will explain a little further though;

1) My reading of the Dec Q and cash burn, coupled with the cash at the end of the Qtr (plus what they have raised since) means they are not going to be in a strong position, and this is mainly based on,

2) The comment they made that they need three rail services per week to be ahead of costs whereas to now for various reasons its only be two services. This mean they have continued to burn cash since they started operations regardless of what stockpiles they have based on their own admisson of volume required to cover fixed costs presumably.

Starts up periods are turbulent and perillous and its rare they get through as per the budget/excel-spreadsheet model.

Watching this one to see if it can get traction and if it does could be worthy of an investment. it has not been there for me yet as it has not shown it can get ahead of costs. It plans to do so, but i am happy to miss the bottom and pick up the trend if that occure.

Regards
DC