agm, page-2

mr NB you doppy ba$%$. at least i post good stuff..
here you go...

1) the Ding deal status
3 out of 4 things cleared.
a) Resource report (ok)
b) Board approval (ok)
c) Shareholders approval (ok)
d) FIRB approval for Ding (takes max 35 days, Ding's doing it, and if they don't hear back from FIRB they can assume it's being approved. Just for formality, almost never rejected)

2) Someone asked why the share price hasn't gone up, still in 67-70 cents range

Most brokers don't think Ding can make it because he's not famous. Once the first payment is through there should be a surge in share price. Ding has lots of assets (over a billion AUD and over a billion SGD? didn't hear this part clearly), already has 3 employees working on this JV and secured a property in Perth to carry this on. Board is very confident this will go through.

3) Estimated production

15mt/yr. Although initial production is likely to be 5mt-7.5mt/year. This is to cut down the risk of having no production at all if the 15 mt plant have issues.

4) Production commencement date

2010 is the earliest, as it is possible to have no access to other companies' jetties. If they order to build it now it can only start in 2 years time.

The board also mentioned the possibility of other projects.