Ann: Annual Report to shareholders , page-2

Mostly what we've already seen. A couple of points:

* Batemans final report setting out the test work results is
expected to be issued in October 2010.
* Financial reports show a significant drop in fees and wages with Frank Reid's salary replaced by Jordinson's and resignations from the board. This is obviously helpful in reducing the rate of bleed on non exploration expenditure.
* Historic Investment in Mehdiabad has been expensed as a loss but not as a write off - $17 million. Net equity of $2 mill. Carrying losses of around $95 million now - if they can get into production there's a bit of time tax free/reduced lined up there.