nearest the pin 1st april 12011, page-20

My 2 cents:

31 Dec 2010 - $1.10 provided resource and drill results are announced prior.

1 April 2011 - $1.90 provided native title announced prior. Small equity parcel to be included with jobs and royalty.

30 April 2011 - $2.80 agreement with Portman reached on use of Cockatoo Island. Capital requirement reduced to $100m

31 May 2011 - $4.00 provided binding agreement with Japanese is signed, including a 20-30% equity stake in Irvine project and offtake agreement. 20-30 equity stake should be purchased for approximately $124m to 186m.

30 Nove 2011 - $4.75 second offtake agreement signed with 3rd party.

31 Jan 2012 - $6.00+ EPA approval given - mining licence applied for.

My thoughts.