announcement, page-3

Yeah nothing mind blowingly new in there. Interesting points are:

1) They continue to mention Stage 1 being operational in 2009, despite them indicating the contrary in the recent AGM.
2)Pre-feasability and JORC compliant resource update due shortly. Interesting graph on page 32, considering it is based on current FORC inferred resources of 172mt - likely to increase by at least 5 times this.
3)The fact the D&C have failed to substantively advance matters relating to IAC.
4)Paulsens east to commence in 2009. It states that "company in negotiations to acquire 25% minority stake". What does this mean? Is it SRK buying or selling the stake? I would assume selling as i though they owned 100%.
5) Beau Coal in Indonesia proposed to start production in 2009. SRK looking to acquire outstanding interest. I believe current holding is 30%, with the other 70% held by OEQ (asx listed). This is an investment fund with a large stake in SRK, currently trading at about 50% of asset backing. Looks like a potentially interesting company.

Would be good to get some clarification from the company on some of this. Orb can you look into your crystal ball again and give us some answers?