agm stuff

Just thought I'd take a second to point out some of what was said at the AGM... didn't go for very long... not sure if there is too much new info.

- 2 new Trafigura board members specialising in Matallurgy and Corporate Finance - rounds board out nicely

- Fully funded til production; 23m in bank. Combined with cash yield from stage 1, enough to bring SXEW into production without any more debt. When Reg was questioned about issuing more capital in QA time, he said he cannot make promises but they will not issue capital unless absolutely neccessary.

Juderia and Kileba next in line to begin drilling - estimating 500,000 tonnes at each location.

Sase Central maiden resource due early 2011 - expecting 200,000 tonnes - grades suitable for SXEW plant. They expect 4.8Mt @ 3% stockpiled at that point. Production costs expected to be 40c/lb.

Expecting resource size to be over 2.5Mt Cu by stage 2

TGS will be one of top 5 producers in Australia by this time next year

Expecting 20m/yr revenue from Cobalt. Sending samples to Meterex (?) this week for testing. Announcement on feasibility expected first few months of next year.

Re-assurances that mine is safe in all aspects, relations with the government are good etc etc.