possible questions to put to jb, page-43

Here's some more questions for AGM. The 2011 annual report suggested that the JORC you raised all the money on was flawed (see extract below). You took a $12m impairment and said you were reviewing the work of you geological consultants. What was the conclusion of that review? Are you taking any action? Are you still using the same consultants? Do you feel bad that you mislead many thousands of investors?


"During the 2011 financial year the updated JORC compliant Coal Resource statement and assessment, review and
audit of the Company’s South African thermal coal projects resulted in a reduction in total resources and measured
resources for both the Vaalbank and Project X Coal Projects. The Company is concerned with the discrepancies from
earlier independent resource statements and is completing a review of the previous work undertaken by the
Company’s geological consultants. As a result of these discrepancies the Company has adopted a prudent approach
to its valuation of its Coal Projects resulting in an impairment charge of $11,855,895 (Project X $10,955,583, Vaalbank $771,275 and Lemoenfontein $129,037)"