analysis of agm report..., page-8

Thornburn, I agree we should start to be a bit tougher on Ian and Co... they NEED to sell this story on behalf of all of us. I will be very disappointed if they do not go on a Roadshow now and get a lot of interest.

Fact is this- we have a huge deposit of Very High grade Iron Ore... we will deliver 1-2 Mil tons pa at profit of between 50-100 Mil pa. What is wrong with this picture, why are investors not aboard.

Basically the lack of sales and being vague on the logistics of the details... I want to know all about the details and understand the Coy inside out. Yet a lot of information has not been forthcoming as they lock down certain items- Port Access and shipping, etc.

Now we need a great DFS with full discloser of what needs to happen to get the Ore out the door and tell us what stage they are at with all of this.

Are we looking down the barrel? At 45c and a cap raising coming up you would like so... Lest us not forget it was not long ago that Ian sold to an Insto for a much greater price. He can do this again and again.

It is his time to shine again and gain the interest needed to propel this stock to a fair value level for the stage they are at. Has been done before and he can do it again.

He will have a very good PR campaign again. I have found the best times to buy this Coy is in the unloved periods then broker reports, roadshows, etc, etc happen and BANG. We are well above the money.

Now look at where the stock was this time last year, we are 110% up so the story is continuously UP. Sure assets say we should be around 60c, yet there is currently a substancial discount applied to the stock for good reason.

Yet it will become loved again...we all grow impatient and some throw in the towel. How many times over the last decade have I been in a stock tanking slowly down only to have it spike up when back in favour must be in te 100s. This is one of them. As long as the long term trend is UP and we edge closer to being a producer and making some big bucks then all is well. Just make sure that the guys are getting the job done logistically IMO. If so, then it is unbelievable value and you should by whilst unloved.

Patience is key in most huge potential forward earning plays. As it does seem too good to be true, until it happens. Patience... we will be rewarded IMO.