now for the hard work

So as we get up and mining and my vroker says the acces road is already complete. So all that is left is some local permitting that is already underway, some 6 to 8 weeks to finalisation and then we dig. simple open cast to begin with so a start date of Feb / March is my best guess

Overburden removal will probably continue into second qtr

But by Ist qtr of 2014/15 we should be producing around 500,000 TPA at a margin today of around $50. ($25m )

Add this to the expanded production out of Cascade and Takitumu of around 150,000 TPA of thermal coal at say $20 margin. ($3m )

And the new mine recently acquired could by this time adding another say 100,000 tonnes of thermal at once again say $20margins. ($2m)

So with no further interuptions by June next year we should be comfortably netting $30m PA. Should put things in good stead while we complete the whole of plateau plan before ramping up to 4 million tonnes per annum at todays margin of $50. Thats $80 PA from the coking coal alone at todays depressed prices.

And dont forget that Iron Ore shipments continue to surprise so that should underpin a bounce back in price for coking coal. especially our "silk of silks'

This is all of the cuff, so feel free to criticise if I am off the mark

Viney