Ann: Victorian Coal Upgrade Feasibility Study Commences, page-54

What is your feel to what will transpire samfiodiving? How much do you think the Indians have squeezed from us in this prolonged negotiating phase? Management still positive going on Glenn's last trip and photos, just wondering what will happen when we actually move forward, a lot of potential but what have we given up and what is the extended timeline to first prove coldry commercial and then matmor? Does anyone know if 60kt is considered commercial? Previous correspondence I have had always suggested we were proving coldry at a commercial scale but not sure if the 60kt was planned at that stage. Frustrating to see this heading into christmas without the the sub agreements/rca signed and the details that would follow. Going to the agm so will be interesting to see what transpires at the meeting.