reflection, page-2

Unless we see something else fundamentally wrong such as a further dive in the zinc price it will bumble along until we get the technical/fundamental forces combining to give the sp a rise Hoof.

Take the current market cap for instance.Back to 88M,which was what market caps used to be for a promising spec moving to producer status prior to the boom.We are now in a trough for the zinc price(well lets hope its trough)and as another poster recently pointed out we were getting valuations from the gunslinger based on $1.40+ and questionable project numbers.

Interestingly we now have a Macquarie analyst saying there is a good chance zinc will push back up above this level come 2011/12 due to a strangling of mine supply.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aCPNe.ePEIws

A couple of issues with Perkoa,as much as we think its a great project,is a lack of back-up resource.Atm its an 8 year project.For Aim to be given a shot in the arm prior to production Perkoa needs more resource.

I was having a look at Heralds projects yesterday and its not surprising to see why the markets enthused about it.The first,Anjing Hitam,which is stunningly close in resource numbers to Perkoa(without the lead),with low zinc production costs and another large resource not far from the current developing mine.One can only cross all limbs and digits for the Perkoa VTEM in this regard.

In terms of Aim letting Perkoa languish for another few years,I cant see the substantials,particularly NS,letting this happen.Aim are already one year behind the original timetable and NS have the legal pressure on with the litmus test about to be applied with those May targets having to be met.

I think we have a couple of well experienced directors that are willing to drive the company to its fullest potential Hoof.Cash has stepped into the hot seat and has managed to get project development momentum up and running which has been of crucial importance.I cant see where we are going to get anyone that will have a passion for this project ala BT of Anvil.That was a unique situation,that I wish I had stayed with a bit longer!!!At least BC has shown that he is a WILLING lamb by taking the Aim gauntlet up even if he is led to the slaughter.

Its inevitable we will see a period of accumulation/consolidation whilst we are waiting on the balance of funding/offtakes.Its been forever thus with financial deals with those wanting a slice of the pie manipulating the action.

What they must realise is that this is essentially the last throw of the dice if this project is going to move to completion under this management.If it doesnt happen then we may well see Aim picked up or sold off for a very cheap song to someone who has the last few million to make some reasonably good profit over the next 8 years or so(espc if zinc moves up again) which would be a pity and not to Tom McAuleys liking!!!

d.