Ann: Shareholder Update - March 2017, page-3

So a delay, but extensive progress on all fronts....and no going back to the market or shareholders for more money and diluting us all. I'm sure Noble are not providing the working capital to continue out of the goodness of their heart but they are in deep and would hugely benefit if this project gets up.

I'm a little confused how they thought the original rail agreement had the line extension to the mouth of mine included and to be paid for by the rail provider (was it TFR?). And then to realise thsi is not included and requires seperate funding. Rule of thumb from personal experience 4- yrs ago is a rail line costs approx $1Mill per kilometer to construct. Anyone know how long the line extension is from siding to mouth?

Anyway............I'm still in and upbeat.....just not sure I'll buy anymore on dips though...as I'm sure there will be dips in the next 2-3 months.

Puss