Ann: Chairman's Address to Shareholders , page-11

This address sounds like something the chairman would read before tucking you into bed.

They fail to point out, (just quickly and there are more)

- that the company weighted it's future on Shougang, the MD spruiking that the deal was done and dusted
- OPES tangled web
- Sale of Rincon would be at a loss taking into acoount infrastructure such as a pilot plant and ponds.
- Vallenars (aka CMSB) business commenced with I/O around $40 a tonne. it is still 50% more than that.
- No crusher
- Shipping stuff up in Jan resulting in exports at a loss to WISCO.
- Cornell having the ability to dilute share holder value and onsell a convertable note (originally 70c) at 17.5c. Due to another small loan at this price.
- Not one quarterly objective has been met in 2008.

IMO the chairmans address takes no responsibility for any of the above, in fact, no responsibility for one mistake!

"Sometimes you get the best light from a burning bridge - Don Henley"