still 28 million cash

If we could just buy out those notes. At least that the end to that liability.

All in all not a bad position for a ten cent company.


''This included initiating action to materially
reduce the level of cash outflow in an effort to preserve available financial resources and extend
the period over which the economic entity can continue to fund its operations. As described
elsewhere in this report, the change in the scale of the economic entity’s activities has also seen
the economic entity seek to restructure its arrangements in relation to engineering and the
supply of key equipment and infrastructure. These processes are ongoing and are focussed on
preserving the integrity of the project and extending the period over which project funding may
be secured.
Notwithstanding the significant scaling back of expenditure and resources available to the
economic entity, progress continues to be made on a number of fronts. In January 2009 the
economic entity announced that the Environmental Protection Authority (EPA) of Western
Australia had formally assessed the Balla Balla magnetite project at the level of an
Environmental Protection Statement (EPS). The EPS has passed through the remaining stages
of the review process and final approval is dependent upon sign-off by the Minister for the
Environment.''


http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00936039