annual general meeting

Although I am happy to see the Directors getting some options that provide great incentive (and realistic chance of reward) I would have liked to see a higher estimate for the sp in three years time than $1.90. After all the latest presentation suggests that a $4 valuation is fair at market value. Pretty happy to effectively grant another million options to AV as the results of late have shown just how effective the team can be with him at the helm.

Interesting to note the various options concerning the commercialization of the ore in the presentation too - on the one hand we see a valuation based on outright sale or FOB royalty (down from the $5 in other recent presentations?), while in other areas we see prospective production up to 40-45million tonnes/year within 6 years or so. Somewhere in the middle will be very nice indeed.

A solid start to 2012 is on offer, and maybe some results or upgrades before then if we are lucky.

While I have you attention - it will be good to see exactly what AQA will be doing with their 250million loan/line of credit for Western Pilbara activities that they announced 30 Sep 11. Updated plan that involves Buckland Hills and the joint half billion tonne deposit at Bungaroo South...?

Good luck and of course... DYOR.