action, page-4

No sorry i was mistaken it looks like its now 2013/14 if i understand this right.


Chairman?s Report
For the Year Ended 30 June 2010
Page 5
Outlook
The Company is exceptionally well placed for the future. Our management team is first class. At the time of writing this report, cash reserves are significant and we are optimistic about the opportunity through the WISCO and Baotou Joint Ventures to become a substantial shareholder in major magnetite mining operations which could commence project implementation in 2013/2014. The foothold obtained on the Sheep Hill Port site on the Eyre Peninsula is strategically significant and would not only benefit the Company but would enable other mining and export industries economic access to shipping.