Ann: Shareholder Update - Newcastle Iron Recovery, page-30

re: Ann: Shareholder Update - Newcastle Iron ... Hi Penny,

You bet, it is cold up around here today. But that is what winter is made of. They are forecasting a heavy frost on the New England Tablelands tonight with minus 9 degrees.

As for APG coming good, I really hope that you are right with your predictions, for we have been lingering with these low sp's for a very long time. For many years as matter of facts, and with painful effects.

This time around though, I will try to keep a very close eye as to when the usual rampers will start to reappear and come again on the scene, and I will make my mind up as to whether I will sell or not. It will all depends on the sp at the time.

You Penny, like me, have been in this thing for a few years now, and I am sure that you would have noticed what I am talking about.

Good luck Penny.