guess, page-26

I don,t think we can buy Carrapateena and try for a full T/0 of SFR.

It would be good if we knew what the Koreans were up to.With the stake that L S Nikko has pumped into SFR they now have plenty of money to continue punching holes into Doolgunna.My only worry is that with more good drilling results SFR,s share price might get away from us.We don,t want to pay too much for it but we don,t want to let it go either.

If we won the Carrapateena auction we could just sit on it and see what happens, without taking on too much gearing to develop it.Underground mining plus the big spend on the plant has to be justified by whats in the ground.

Interesting times ahead- but this first step to start paying a small dividend and then saying that 30%-60% of profits will be returned to shareholders has got to make the market sit up and take notice.

We,re looking good going forward.