NOT SO GLOOMY!, page-6

It makes money in all price cycles. That's a good business. Been in this for many years and how it is managed as a miner has always been pleasing. There was a premium to pay to stop BRL staying a penny company and the share register is not the retail holders friend. The stake in Canada is still significant but not what was planned due to the litigation.. The litigation shows we played hard ball with L&M but it was hit straight back at us. Our major shareholders would have been aware of the situation before putting their money up. They are still well in the money anyway. Despite what has been said here, I don't believe a loss will mean the end of the company. I'll continue to hold as demand outlook for high quality coking coal seems promising.