Ann: Appendix 4E 2008 Annual Management Discussi, page-10

re: Ann: Appendix 4E 2008 Annual Management ... Chucky, this is like stealing wheat from blind chooks, the third largest producer in Australasia, increasing production, increasing POG, diminishing costs, prudent hedging,a weakening NZD (at present), the NTA is $USD 1.53 which amounts to about $NZ3 per share or $A2.40.

A realistic share price for a company with such near term prospects relative to the rest of the OZ market is $2.00