common sense, page-3

I spoke to CFO yesterday. Didn't really reveal anything as he was very conscious of only disclosing what is in the public domain.

Suffice to say the change in process for forestry permits has meant we have been caught up in a bureacratic quagmire of delays. The indonesian partner and consultants are helping them navigate this and provide requests for information. Will get there but by when is still million dollar question and didn't get any confirmation of timeframes on that.

On tabalong, asked if have enough funds once get final approvals, where need capex of $10m. Answer was yes or at least if need any top ups have arrangements in place to provide that.

On delta coal won't get any numbers till they next report full year results. Opportunistic play to provide cashflows and increased credibility and presence in Indonesian coal market.

On Mt Webber, still planning to have its 30% stake as they have received no offer (I take that as yes have no offer but would be ammenable if AGO made an offer for their 30% stake), and still working to AGO timetable of having this in production by end of the year.

They realise share price has been hammered and need to generate cashflows and dividends which is what Mt Webber, Delta Coal and Tabalong should be in a position to provide by 2014.

I still rate this highly as long term investment but time to forget about this for the moment.