presenting in zurich switzerland 2moro, page-11

Rony

Plenty people like the company...remember how heaviliy oversubscribed that huge placement was.

Unfortunately, shareprice is just in one of those periods where it is struggling (along with the rest of the junior market). I think the market is waiting to see what their project financing arrangements are like.

I'm not too fussed about that...the project is extremely attractive so getting finance shouldn't be an issue particularly considering that the CAPEX is really not all that large compared to say other projects and the payback period is so short (around 1 year!).

Maybe one little sore point from the Swiss preso was the comment about CAPEX and operating costs being higher than in the 2007 feasibility. But that was already known to be the case, so can see no reason why this would cause angst, particularly as it was accompanied by the comments that metal recovery levels, concentrate grades, metal production and metal prices were ALL expected to be higher. (Refer slide 13 of preso).

Cdchi1