Ann: AGM 2012 Operations Update , page-3

Satellites

Glad to see you can see the positives from this AGM update.

I struggle personally..heard it all before but worse heard they have had parties interested in jv parties but then hear nothing further and so seems nothing more than hot air coming out of the korab stable.

Actually at this point producing hot air is about the closest I reckon they will ever come to putting something into production or delivering.

Winchester magnesium is just wrong commodity demand wise so sceptical they will be able to offload it. As for other projects and joint ventures....doubt that will happen either as get the feeling Andrei holding out for overinflated prices as Melrose ipo was done at ridiculous inflated price imo based on ev/oz basis of what offer price equated to. Imo that is why melrose ipo failed as pricing was just plain wrong imo.

This stock definitely off the radar for me....come back and see where at in six months. I really do doubt much would have changed except more announcements with more promises of delivering value(hot air).