lets call for an egm: change of directors, page-25

WEC are more interested in upgrading and briquetting waste coal fines in South Africa; selling coal in the Appalachian, US; selling Ingomar coal to South Australian power-stations; and pocketing cash from the Singapore Court action against Bayan.

Bayan remain concerned by their completely frozen controlling interest in Kangaroo Resources.
Bayan are pocketing a profit of about $30 - $40mn per annum by not supplying coal to the Tabang Plant(now bankrupt).
There looks to be room for an out of court deal from this position as Bayan are now to book an approx $45mn loss on Tabang against tax in Indonesia.

Profits are expected from the US in 2013 though Ingomar, South Australia coal sales look a few years away. South Africa is promising but difficult.

There is no estimate for sheep and wool sales from Ingomar Station and the coal upgrading/ oil from coal situation at Phillipson is far away.

Room for a jump in price on any deal with Bayan.