favour for an old freind/foe, page-2

Hi SS-

Good to hear you are back in the game after your margin

call nearly wiped you out.

Some here are talking about being happy to use the funds

to fund Carrapateena.

That is probably 6 to 7 years away taking into account

the depth of the ore body and the usual delays that

seem to be the norm with mining projects.

That is a long time to wait for something to happen to the

shareprice. As we seem to be out of favour with the

analysts because of our inaction i can only dread what

will happen to our reputation and shareprice if OZL turn

around and say we are going to wait another 6 to 7 years

before we utilise the M&A funds, not on M&A but on funding

the development of Carrapateena.

As far as PEM goes i used to be a shareholder in 2009 but

sold out after the Chinese bought a stake in the MT Isa

operations.

Good luck with your new holdings.