questions for glauconite, page-34

?Glauconite, did I read right that first pass drilling at Moora will be complete in two weeks, with assays available two weeks later? This with flow charts being drawn up and a scoping study already commencing give a sense of almost urgency to get Moora underway. Is this fair comment??:

Yes, I think that is true. At least that is what was said at the AGM. I don?t know that the regard it as urgent, in the sense that the companies future depends on it, but rather they really just want to get on and get these projects underway as soon as possible. This seems in keeping with the whole tenor of the company; frugal, business orientated, no frills or unnecessary trappings. Suits me.

I know what you mean about lack of communication, and that has bothered me as well. However, I think MR is a man of few words who chooses to use them carefully. I suspect that part of the issue, at least over the rcent few weeks, has been that market sentiment has been so adverse in general, and towards miners in particular, that MR and RWD probably feel any small announcements, however positive (such as ?negotiations with the LM TO are progressing well?.etc) are likely to be drowned out in the general market noise ATM. MR (like all the other WA miners I have spoken to in the past 2 weeks) is scathing about the effect the Swan-Rudd tax grab will have on the mining environment, even though it will not have much direct impact on RWDs project at present. Clearly, the uncertainty / soverign risk the RRTax has introduced has cruelled the mining capital raising capacity at present.
Its also worth contrasting the approach taken by MR and RWD with that of MAK. I (and I guess many with an interest in RWD) also have shares in MAK as well as IPL and other fertilizer companies. Until recently, every time phosphate prices would rise 20-30 cents, or a barra was caught in the NT, MAK would be releasing ?price sensitive? announcements to the ASX. In the past few weeks Andrew Drummond seems to have made more appearances on ?Mine Radio? than the host journalist. And to what end? They have yet to release their bfs and their share price is only prevented from going any lower because it currently reflects their banked cash. Reward and MR, I suspect, will make announcements when they are genuinely significant. I guess it?s a case of not cheapening the currency or crying wolf.

?Glauconite you have been rightly ctitical in the past but seem more positive now, is that a fair call? If you had funds available would you buy more shares??:

Well, I was very critical, but I?m not sure I?d claim to be right now. I didn?t fully appreciate the extent of the major difficulties MR and RWD had negotiating with WDLAC. Reading between the lines, the tactic of the original WDLAC board was, allegedly, to frustrate the negotiations for long enough for RWD and MR to either run out of money and/or patience so that they could take over the lease and set up their own WDLAC Potash mine (and presumably, screw over the Martu at the same time). I can say with some confidence that the sun will explode before MR will let that happen. Either LD goes ahead with RWD or it will sit there untouched for eternity. Its very easy to be critical, from the sidelines as I have been without knowing just how hard RWD tried to get that deal through.

As to my personal opinion, and buying more shares, I have done just that.
Good luck to you all, I have a strong sense that RWD will perform well this year.
Cheers, g