and again here comes another one 1, page-94

Ladies and gentlemen,

I really can see the argument against the buy-back, especially since we issued a lot of capital at $2 only 9 months ago and the debacle of the last time it was done. We have however more recently issued shares at $3.80 - yet the share price was languishing at about $3.20. The previous position of the share price really doesn't make any sense other than it is being artificially held down.

That being said, if I were asked before today I would have openly said forget the buy back and just focus on exploration / mining etc. Seeing the affect of the buy back today I will openly say Wayne Baby got it right on this instance. The high percentage gains today tells me that those who were holding the stock down are either covering shorts or accumulating in a hurry as they may not get the chance at these levels again.

I hope very much that Wayne does not use this buy-back facility other than when it appears shorting maybe holding the stock down. I also do not think under any circumstance the stock should be repurchased for more than the latest issue at $3.80.

Credit where it is due ? well done CDU management, you scared off the shorters. I believe we will go back to the $3.80 - $4 mark which is where we probably should have been all along.

I am the Iceman!