down down prices are down, page-16

Don't sweat it Mandy,

Through my rose coloured glasses I see -

Price being kept down for cornerstone investor 15-20 % possibly integrated coal mining.

World markets/commodities pick up - QE3, Chinese stimulus, iphone5

Coal price races back over 100.

Once our cornerstone investors are locked in i see further progress on waterberg power station being announced and possibly another off take contract for phase 2.

Then eskom will offtake all our phase 1 domestic product due to power shortages.

Banks will come back wanting greater slice of the debt - say 60%

Power station at the mine will be debt funded or contracted out saving 80-100mill in capex.

Leaving us to raise a mere 260mill @ ~ 50c

Ending with ~ 860m shares on issue ....then.....exxaro/anglo will step in to buy us out @ $2 per share

And it's sooner than you think!

GS ;)