blame myself, page-20

Now everybody, check out these important points from the quarterly....

MMX is way oversold in my opinion.

Everybody note that The deferred payment that Mitsubishi is contracted to pay MMX is due before the final investment decision. Looking at other projects, it has been estimated that the value could be around $2bill

"
Murchison
Net profit of $3.3 million reported for six months ended 31 December 2010 (inc rain effected quarter)

Debt funding presentations made to key Export Credit Agencies in Japan, South Korea and China

OP&R
Oakajee Bankable Feasibility Study tracking to schedule

Negotiations with Foundation Customers regarding Supply Chain Agreements continued

Comprehensive cost and schedule optimisation review commenced for the port and rail infrastructure



In accordance with the joint venture arrangements between Mitsubishi and Murchison, Mitsubishi is responsible for
managing the arranging of limited recourse project finance required to fund development of both the JHEP and
infrastructure projects. This financing process is progressing, with Mitsubishi and Murchison working concurrently on finance strategy, documentation and bank engagement.

Formal engagement with prospective debt providers also stepped up during the quarter, with Mitsubishi leading a debt road show in Asia during March. This road show primarily targeted major Export Credit Agencies (?ECAs?) in Japan, South Korea and China. Preliminary feedback from the ECA road show was positive

The deferred payment that Mitsubishi is contracted to make to Crosslands in consideration for Mitsubishi?s 50%
interest in the Jack Hills project is also required to be settled prior to a final investment decision"