Hard for the directors to buy, if a material change potentially...

Hard for the directors to buy, if a material change potentially comes to light then ASIC will be all over them;

As per recent "Letter to Shareholders" announcement;

MTE is continuing to pursue a joint venture partner into our Bundi Project and we have had a positive response from several companies following our visits to India in late 2012 and China in February of this year.

This positive view of the thermal coal is shared by most market commentators and is reflected in the interest shown by potential joint venture partners in our Bundi Project.

Following these meetings, discussions have continued with several Indian and Chinese companies and visits to Bundi and Gladstone are envisaged in the near future.