Ann: Notice of General Meeting/Proxy Form , page-4

At the AGM I asked Chris whether, given the size of the company that a $35m plant should be the priority right now.

He said, its always been the priority, they are making a killing out of us, when we have the plant we'll be making the killing and our cash costs will go down of course.

I said, payback period?

He said 12 months.

I thought...
- why isnt everyone building a mill?
- if I was a 15m developer and I went to a bank and asked for money for a $35m plant, they would ask for my bfs and a hedging profile, I don't think you have that


That said he is putting alot of his own money in, maybe he knows something I don't