Ann: Roadshow Presentation December 2010 , page-6

ok, so Ian is selling this story to the soph's and insto's. He is fronting up and selling this story to the wallets that will fund a substantial part of the CR. IMO, he needed to be clear on numbers to these guys, otherwise we are just a moving target that ain't worth the trouble.

But... of course we are worth the trouble!! - we have a fantastic story to tell, and plenty of profits to made and plenty of upside available should we get better shipping options in the future. A margin of $55 p/t @ 2mt p.a. looks very appealing. CAPEX of only 26mill screams 'get in now, or we'll miss the boat' because Finch will surely direct a large part of the funding to existing holders, as history shows us.

I see what he is doing here, I like it. It is a sales pitch. It is a good sales pitch. Question will be from us longtermers 'why have we got 3 sets of figures in 3 announcements?' 'where is the continuity?' I dont see this as a major issue as we are talking estimates at this stage, and until the DFS is released they can continue to have some poetic licence here. That will change once the DFS is released.

These soph's and insto's will want to see the DFS before committing, no doubt there IMO. So I suspect that Ian and Co. will realise that if they are capture the imagination of these high worth entities, they will need to release the DFS ASAP and ensure we are still at the forefront of their minds. Otherwise we run the risk of being culled off the 'prospective investment' list without a yelp.

Goodluck Ian, I hope you succeed and get some quality leads and committments to our cause.

boy o boy are we a cheap company at this stage of the game! time to open the wallet again I reckon.

Goodluck all,
Split

sentiment - VERY short term buy - back up the truck... beep beep beep....