Ann: Completion of Due Diligence and Notice of Me, page-73

re: Ann: Completion of Due Diligence and Noti... Nannook, due to work commitments and some pressing personal matters I didn't have time to return your call yesterday. That doesn't look likely to change today so I will have to wait for a suitable time to respond more fully to your post but I stand by everything I've said and if all you have to say on the matter is 'pay no attention to the man behind the curtain' then I'm not really sure there's a point to responding.

If my homework is so poor and Pakar so valuable why did the mining at South Pakar stop and the whole project end up on standby ? By the admission of the author of the IER South Pakar coal curretnly has no market. End of story. Applying this pro-rating of the Newcastle Index for 6300Kcal coal to Pakar Coal to come up with a value of 277Million is just playing with numbers.

If you're serious about the off market transfer I'm waiting on July 1 to exit and a price of 22cents. If that suits you send me through the transfer forms at the end of June and they're yours.