Ann: Confirmation of PEPR Approval , page-2

Well what a great finish for the day at 63c for Christmas.

This is what happens when you have a tight register with positive news.

I also asked how this announcement helps the financing and although tight lipped, most of the work to get financing was near complete anyway. I think that full approval gives confidence to all, whether from a debt or equity raising point of view, that the money will not be wasted as a mine can now be built rain, hail, or shine.

Also in regards to port approval he would be very suprised after todays approval that we would have any issues here. Although it is between sea transport and another minister in SA govt, they have already given a S49 to fast track approval.

Todays approval would certainly make you think that they would have spoken to the department that issues the port approval prior to issuing this environmental approval and that it would be positive outcome.

I have mentioned that April looks likely for shipments but Jan looks like a very busy time for IFE in getting the mining pits ready.