3c or 12c, page-6

Deepdiver,

I was discussing the merits / demerits of JRV with a mate of mine whom I respect a lot as a mining engineer. He had never studied JRV before this announcement and hence he took a few days going through the whole lot of announcements going back 18-20 months. He is no financial guy but as I said a bloody good mining engineer. His most important point was that assuming the JV goes through as per plan, the success of the 3000tpa pilot will determine as to what level the sp can reach. He said that as the final target is 50000tpa, a pilot of 3-5% capacity would give a very clear picture of the final achievable goal.

Well, we all know the above as it is a no-brainer, but getting it from him was re-assuring and he has never invested in stocks directly before and his willingness to buy his first parcel of shares (not millions, but a few hundred thousands) will be a big talking point in our circle.