agm highlights

Nothing particularly new or shocking. All resolutions were passed. Presentation given at the end of the meeting.

Still quoting $400USD

From the presentation:

Some changes to the timetable. Scoping study extended to March next year to take in DSO option.

CAPEX/OPEX numbers due in December will be for the full 3MT pa, benification, etc option and won't include DSO.

If DSO proves to be a viable option they could be shipping by the end of 2009

Stage 2 environmental approval looks to be a formality with no endangered plants / animals etc in the area.

From questions from the floor:

Held financing talks in North America a few months ago with a view to returning early next year. While they used rough cap/opex numbers at the time they were told that it was "do-able"

Current Darwin port capacity is obviously limited. The port expansion is a must for the company. Worst case if the NT govt haven't come through with the goods they're exploring building the facilities themselves. (compensation / royalty relief etc) They've also explored the option of sending the ore south (port not ready, de-railment, etc)

Tennant creek hub third party is waiting on pastoral lease approvals

Directors and "friendly parties" hold roughly 35% of shares and are not interested in a take over (Interestingly as soon as the question was asked Ted Ellyard said "BHP". Can only assume jokingly...)

More to follow when i remember it.....