sounds positive, page-25

Hi Zonker,

I note you said that you hoped for a profit to start flowing "this year or early next year." Realistically I think it better to set a goal of Q3 2014, since at best a port approval would be some time in November; finance would likely take a few weeks to finalise; Various items have to be bought/leased/manufactured; etc, etc. There is also the matter of the new PEPR (I think that's right) permit to be received before mining could commence. All that I think would take several months to achieve, but as long as the steps are being ticked off regularly and methodically I think the market will be happy and the SP will steadily appreciate. This current hurdle is obviously the most important; the others should follow without undue delays. (The iron ore price has to stay buoyant of course.)

Upbeat start today, which is nice to see.