Ann: Trading Halt , page-3

After clarifying the shaft issues in the announcement.... consider the following:

Pike River has already locked in long-term contracts with customers covering 70 per cent of its output during the next three years, including 55 per cent to India for the life of the mine and 15 per cent to Japan.

"Pike River expects to sell all coal produced despite the international downturn," Mr Ward said.

The miner was expecting to produce 160,000 tonnes of coal by June 30 and one million tonnes each year after that.

By April.... we will havea whole new ball game....