email from ts which clarifies a few points

I don't normally paste my emails on this site, but received the following this morning that clarifies a few of the recent discussion points on this thread, and will maybe calm some nerves that are as fraught as mine recently.

Draw your own conclusions...


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Hi Tony,

>

I have been reading about Leichardt being back in production from external sources, is this true and if so then will there be an announcement?

The 36 million exploration writeoff in the half yearly report - does this mean that 36 million was spent finding nothing or is it just an accounting practise?

I am surprised there hasnt been any news on Sappes recently, and am willing any marampa news considering the AUD is dropping and this would no doubt have a positive effect on the realisation profit in AUD terms.

Thanks again for your excellent work and looking forward to better times ahead,

Cheers




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Tony Sage to me
show details 9:47 AM (9 minutes ago)
We have plenty of cash and a further $30m in fromthe recent sale of Lady Loretta to Xtrata! Marampa is well regarded and will be sold in the coming months! At these prices CFE is extremely cheap, I have bought a further 500k shares myself to take advantage!! Markets will recover after the pamic selling! Japan and NZ alone will need to spend $100b, this means coal, iron ore copper etc etc will be in demand, already supply is stretched!!sappes and liechardt will be sold in june quarter! $36m is just an accounting figure! Remember in 2008 in bought Copperco and Atlas was 43c, bhp around $22! When it turns it will turn quickly!