Ann: Section 708 Notice and Appendix 3B , page-29

“The mt mull project seems to have more barnacles clinging to its putrid leaky hull now than it did 2 years ago,despite IKs efforts, much to my dissapointment”

Two years ago the tenement could have lost all together, with Mantle having to launch Supreme Court action, soon Mantle will be conducting ground surveys. You are clearly delusional if you think that is backwards progress.

“As for high ash projects,i will take "high ash good quality bright black coal" over high sulfer low ranking brown coal any day.....”

$Lignite mining + $Lignite to BCE = $Black mining + $washing

The difference is going to come down to transporting of 50% waste product in the black coal, particularly in NRU’s case as it will be trucked not railed adding even more cost.

The quantity of sulphur can be blended as they are currently doing with American and Indo coals. If you remove 50% of the ash you are still left with 25% ash which is still considered high ash and will still probably need to be blended.

Also the cal value is tricky as it will depend on the ash level, they cal value is usually done on a ash free basis., so end cal will result on how much ash can be removed. If you remove 50% of the ash you are still left with 25% ash which is still considered high ash and will still need to be blended.

“time for a bit of reality without the upramps on the mnm thread,we all backed the wrong pony with mnm,i believed in the mount mull project,and that we had access to 500mil tonnes of black coal,which sadly it turns out,we do not.”

Not at the moment, things can always change for the better or for the worse. Knowing the intentions of the traditional owners and their pull I am betting on for the better.

“At least i can admit to myself that this investment didnt pan out the way i expected vertigo,not constantly ramping away trying to prop up a rapidly dwindling investment...”

I still have full confidence in the company, in its management and its projects hence my current in the company. You on the other hand are supposed to be a holder from your disclosure, but if I had the same opinions as you I would not be not be, I guess that is because I stand by my convictions and you don’t.