appendix 3b- gill winkler performance rights, page-3

Hotfire,

Also the bigger the loss the bigger the promotion.... The more value you destroy at your current company the more you get paid at your next gig...

I think management have jumped the gun on a lot of appointments and their promises in presentations (especially early on) showed a distinct lack of experience in a company like cpl -- perhaps too long working in a sheltered environment where you pay a team of consultants to work out the annual cost of tea and coffee in the Lunch room.... Also, initially management believed they only had 1 boss - highand park.... No work was done filming the shareholder base or bringing in key investors...

In all honesty I think the company needed a hardened managing director who is able to get things running on a shoe string budget... At the time when the share price was 1.50+ money was a flowing, coal price was high and we were all living in la la land - no one envisaged 20cents....

Our monthly burn is way too high- seriously all we need to get this into production is a project manager, hardened MD and an investment relations guru/spruker... We ran the company like an asx 200 when we should have been running as a junior heading towards production...

A while ago I posted that there were 9 articles out of 10 that were negative on coal... Now run a search on coal and 7 out of 10 are all positive,,,, it still hasn't turned though - I don't understand...

Is there an experienced coal trader that can shed some light?

If there is going to be a takeover bid - it will only come when balance of funding is secured and before construction starts... I am hearing more and more comments that funding is sorted through coal prepayments. Whist not a great deal not too bad given where we are.

One thing is for sure the board are backing Gill and the team 100%...

Over and out !!!!