Ann: Fenix completes first shipment from Twin Peaks, page-5

Well I think that shipment will add up to a million profit (before tax). Also we need to remember that another 1 million will be added from a repayment of the 5 million dollar loan.

So the bank balance ahould increase somewhere in the 1.5 to 2 million aud.

I am sure as we come up to July or August time the punters will come back into the company expecting a dividend announcement.

My feeling is if IO prices stay in this 110 to 120 per tonne I am think 3.0 to 3.5 cents is definately possible if they pay over 40% of the profits.

I looked at the number of issed shares. 1 cent dividend equals just under 7 million aud after tax profit.

So a 21 million aud dividend is definately doable.

Our first half profit after tax was around 22 to 23million.