Just read through the half yearly. The following points stood...

Just read through the half yearly. The following points stood out to me:

i. Resolution and arbitration.
"Union has not been able to successfully resolve the termination dispute by negotiation.... If no substantial progress to resolving the dispute is made by the end of the first quarter 2008 (calendar year), it is anticipated that the Company will commence arbitration proceedings in accordance with the provisions of the Agreements".

Ok, hopefully this is a cloaked but definitive statement that March 31 is the deadline. This fits with the discussion at the AGM. I hope they maintain the line - in a situation like this the defaulter (Imidro) has the power to easily string us along. We have the moral and legal highground so I think its past time to exercise it. If the site is not going to be ours then we at least must fight for proper compensation. (Could someone have been buying in anticipation of initiation of arbitration giving a boost to the price?)

ii. Other projects:
" The company is continuing to assess...". I'll take them at their word but it's been at least 6 months since the search for new projects started - the middle East doesn't appear to be targeted that hard by others so how long is reasonable to wait before expecting an announcement?

iii. Financial.
$976k loss for the half against $1059k in the 2006 Dec half. Tightened the belt by stopping exploration activities but would still like to a see a smaller loss. Payments to suppliers and employees was the main figure there and I assume includes costings for options issued to employees. Would like to see this figure lower while we are doing nothing.
Note also exchange rate allowances appear to have a significant impact on Equity on the balance sheet.
$2.4 million cash and equivalent at end of the half. This will last about 12 months at the burn rate of the report - I guess that means next cap raising would be around August/September if everything stays the same.