Concerned Shareholder, page-70

I am keeping my shares for now, but I don't expect any major improvement till after January now. This is the depressing time of year for watching stocks and unfortunately the BOM has just released a cyclone advice for the Gulf for ex tropical cyclone Owen that is expected to re develop in the Gulf early Wednesday. MMI should give us a production update before Christmas. This is probably a wind down period for production now and there has been a continuation of staff losses in technical areas from Bauxite Hills that is rather concerning, but probably good for directing savings in wages to planned development over the wet. We can only hope that MMI have learnt the lessons since April and build on a strong foundation of infrastructure improvements and investment in a solid base of technical staff with minimal staff turnover, that are going to take us plus 3.5 million tonnes.