Ann: Quarterly Activities Report , page-3

Hi Guys

Some good movement this morning so far, lets hope the general market can keep this positive market trend going.
Also thought i would note a few items I noticed in the Notice of General Meeting that you all would have recieved in the post or by email.

On Page 23 under terms and conditions for performance rights issue - Mr Paull, there is some very intresting timeframes and milestones set out that must be completed in order for directors to recieve these performance rights.

A. A completion of a definitive feasibility study by the end of 2011 in respect of a Direct Shipping Option (DSO)

B. The Commencement of mining operations in respect of the DSO within the first half of 2012

C. The completion of the first sale and delivery of coal from the DSO project by the 31 of October 2012

D. The Actual sale of a total of 500,000 tonnes of coal from the DSO project. Including the first sale in the twelve months following the date of the first sale

Shows that we could have first production with in the next year including infastructure etc. Looks to be very positive and plenty of incentive for the directors to get this accomplished. GL to all holders

GB