Ann: Significant Coal Intercept at Nuurstei Cokin, page-12

re: Ann: Significant Coal Intercept at Nuurst... If Noble are the key to development, than we should look at what percentage THEY own. The answer is Noble owns 44% of the Noble / XAM JV prospect called Nuurstei, (40% through the JV plus 4% through Xanadu). A quick look at AKM shows less than 10%? (April 7th Company Presentation). So if comes to Noble having a finger in two coking coal pies, which are they more likely to put THEIR development resources into.

Also not prepared to agree that Galshar is low grade junk. previous announcements indicate significant tonnages that cleaned up in a wash plant would be marketable. We will find out for sure in a few months.