Ann: Update on TNG Share Plans, page-41

Youngun, why are your expectations so low ? Your comments have just flagged to the board and management that you are not expecting much before the AGM and you are letting them off the hook. Dmasonics comments outline what he expects by the EOFY. Lets demand that these boxes are ticked by 30th June. Lets keep high expectations of our board and management. There is no reason that I know of that will prevent them from doing all these things by EOFY. However, I reckon the Titanium offtake will be really tough. The existing marketing system will be dominated by the mineral sands producers and they will fight brutally, tooth and nail to prevent the titanomagnetite ores getting a foot hold in this market via the TIVAN process. It could possibly mean the end for them. TNG could be being led up all sorts of weird garden paths by the current titanium marketing system in order to stall them and ultimately stop TNG if they can. I think we may have already seen this when there was a offtake presented to the lawyers a few years ago. It didn't amount to anything except run TNG around in circles for a year or so. What was all that about?

Anyway, I could be proven absolutely wrong by the end of the week. I hope I am.