game changer, page-10

Hi Joe - I agree with ttg. 60% of an opportunity that has potential to be much larger than 100% of our current ops in India is very appealing - plus our execution just jot 1000X better.

VJ being local will also be able to facilitate regulatory environ a lot better/ faster as well. therefore joint plans have greater potential and success rate.

We still own our QLD coal assets 100% - and currently at nil value - i think the vj mob are smart and they have just got into bed/ optioned up with our coal assets at no cost/ risk. vj is in drivers seat for jv here when india demand grows.

all in all a win/win for both parties...