bargain prices?, page-16

Understand waynecat. The share consolidation has been costly for many.

TAPAN THERMAL COAL PROJECT PROGRESS

Is there any update or news on whats happening at Tapan? Are we close to the JORC and when can we expect the company to detail its plans in terms of proper feasibility study to overlay the JORC in terms of but not limited to:

1. a resource review and development of a life of the Tapan mine plan.

2.detailed transportation study from the mine site to the barge port site at Air Haji

3. a detailed mine and port infrastructure study at Air Haji (or is this existing infrastructure)

4. a ground survey of the terrain between the mine and proposed barge port site to determine the course of the road corridor

5. an assessment of proposed barge port locations and hydrological and geotechnical assessment of the proposed mine pits; and

6. a marketing study on the present marketability of the coal from Tapan.

Although in relation to point 6, Adavale has indicated that an Off Take offer is in place for the "entire production" of Tapan.

It would be beneficial if the company could release a more definitive plan for the Tapan thermal coal project.

Your thoughts please.

Colonel