30th june 2010, page-7

Hi Split - What I am hoping is that this is a classic case of the market being a voting machine in the short term. As the bad taste starts to leave people's mouths, the SP will more closely reflect the actual value of the company.

I agree though that there is a lot of bad taste to clear and I am not sure how long it will take to get out. My short term hope is that a combination of a couple of quarters of full production where costs can be demonstrated to be on the $700 range long term will then make A1 look cheap relative to its peers (hence my sort term buy sentiment). Money should start to flow back to A1 and we will see in increase in the SP.

Longer term A1 will have to demonstrate that they can step up production to the 75,000 oz pa level before we see real value. Right now the market is voting against it.