Ann: FML March Quarterly Report and 5B , page-16

Greetings

The jury is still out on this Quarterly which is a shame because an out-and-out success would have helped calm the nerves of some holders who have had second thoughts last few months (NOT including myself in that description but I acknowledge some have been concerned)

The HUGE plus imo is the validation of mgt decision to have a crack at CRE. Sure the ownership issue isnt resolved YET but how about the operational turnaround in 6 months.

We often use phrases like "ecconomies of scale" and "de-risked" as if they are throw away lines but we have just seen the benefits of expanding ops to 4 mines...Tindalls U/G had an unpleasant hiccup (further DD req on that one) and the pits were able to pick up the slack!!

Remember that Tindalls U/G was our cornerstone production centre 12 months ago...imagine if thats all we were mining and we had to suffer a 40% production drop for the Q??

Shoot me down for being the optimist but just thought I'd give evryone the chance to consider the above angle and put things in perspective.

NOW back to my DD on Quarterly, hoping to get that done soon so I can bury my head in CW's upcoming report

Cheers

Couchy