Ann: Quarterly Activities Report, page-9

There is a clear indication of continuing the dividend but also capital growth. There's almost nothing in the announcement the company hasn't flagged in earlier announcements. I happen to read those announcements and do a rough calculation of income, costs etc. So I have twice posted on these threads we'd have $80 million cash which of course we would have exceeded except for the $4.4 million advance tax payment which wasn't flagged. Nevertheless, if you consider the final payment of $8.8 million for the late June shipment is still owing, the company has performed very well. Maintaining 6 shipments is a direct flow on from all the upgrades (at port and to haulage) when the port was having maintenance work done that was out of our control. Everything in it points to a company well managed. If you previously read my predicted dividend it is in the range of 2.5-3.5cps so is still reasonable. It obviously could have been sustained at previous levels had there not been a constant cry for capital growth based mainly on a slowly dwindling LOM. The purchase answers those cries.
Any drop in share price I see as temporary and unwarranted given that, as earlier stated, everything has been flagged and was predictable.
What comes next are:

• Steady state production at Iron Ridge
• Capital Growth projects including development plans with costings and timelines for the Shine mine including the village, port blending infrastructure, future railway recommissioning etc
• New revenue streams from for example third party haulage contracts, and similar for port leases.
• The Annual Report which will include the size of the dividend
• A wish list: It would be nice to see the price of IO increase
• Along with all the above, an appreciation in S.P.