Conference presentations, page-5

It would be nice to have $80 million in the bank at the end of the quarter. We've invested a fair amount in acquisitions etc so improving the cash position would alleviate any concerns surrounding these outlays. The company is being very bullish surrounding its growth prospects. If they can back this up with $100 million cash at the end of the year, and perhaps an improved dividend even to 3c/share, then surely we'll sit in the higher 30s rather than the current 20s. Until the quarterly we are staying reasonably strong in the face of uncertainty about the IO price. Of course the AUD/USD cross is very much in our favour, as is the reduction in production costs. These two factors ensure profitability thereby underpinning our price.