gift, page-15

I would suggest that this is a classic time to sit tight and wait. There is volatility in the markets globally of course and uncertainty with FML / CRE deal however the fundamentals are little changed and indeed, perhaps enhanced at FML - AUD Gold price now $1626 as I write this.

If you believed in the FML story last week then continue to believe in it this week and the rewards will come in Q4 2011 and into 2012 and beyond.

The only difference I believe may arise is current vulnerability of FML to a bid, most likely from China. We are so undervalued that it may be the time for a stalker to pounce and make a move on FML and or CRE. I think in the next few days we see a spike in our volumes very suddenly and this may be related or unrelated to Stone Holdings, but no doubt whatever Stone were doing buying recently, the events of Friday will certainly have caused them to see if they can exploit the situtaion further.

I think it is all rather fun and as I have enormous kahunas, I for one am sitting tight and enjoying the show and certainly not capitulating. Know your own mind and don't join the lemmings IMHO.

Bizz