report - today's bmb presentation at macquarie, page-5

Even the article on the Polish Coal industry I postered a few days ago refers to $90 / tonne for black coal within Poland.

I think Mike may have ideas of selling it on the international market which is higher priced. However the north port in Poland leads to where? Scandinavia wont have a need for coal, and elsewhere is too far. It will need to be sold to Poland or Germany via rail. Russian coal is produced at very competitive prices. So thats an unlikely option. Poland currently imports Russian coal and I dont think in the long term Poland would want to be heavily dependent on Russia. Hence all approvals for NR will be passed very quickly. One good thing about having a inoperative mine is there are no redundancies or unions to deal with.

Q: Why does BMB suddenly participate in Investment conferences and to MacQuire?

Q: Do you reckon BMB could be in full control of the $15 m and are just waiting for the pending Togo outcome? We could go into a trading halt and be hit with a double whammy. The result will be like a high stake game of two-up.