Ann: Quarterly Activities Report , page-8

Leng....PZC is far from terminal...they have a resource proven by a feasibility, MOA's with three partners with proven experience in the region plus an upgraded JORC from the northern part of the tenement plus a more efficient mining model to be announced early 2013.

The market just isn't excited about thermal coal right at the moment but this doesn't mean PZC is terminal.

They've also recognised the need for some additional funding and mgt are on the case. With a project at this stage of development it's hardly mgt's plan to close doors and move on.

We're just in a holding pattern at the moment.