Ann: Wintime Cooperation Agreement, page-8

Not sure how this will do anything to the life of mine of Blair Athol from an output of coal perspective. This agreement isn't going to create more coal at Blair Athol, sure the infrastructure at Blair Athol may be used by the owners of Moorlands so the infrastructure could still be used beyond the last coal is dug out of the ground at Blair Athol.

Maybe i am reading this wrong, and maybe my interpretation of a 'project' is different to you. But this appears to be just a contract to help Wintime to get a mine operating there and for Wintime to use Blair Athol infrastructure. Don't get me wrong, if this gets up, this is great revenue for Terracom for a period of time. But if Moorlands gets off the ground and has a LOM of 25 years, they would probably will need something a bit more than what Blair Athol can offer - their CHPP is old and they put coal on a train using front end loaders. Perhaps Wintime should be looking at buying the train facility that was part of Blair Athol, but is now owned by Clermont Coal as my understanding.

Again, i do think this is great step for Terracom, and it is great to see management doing something beyond bleeding Blair Athol dry.