Heron...Sounds like your post is from a Google translation site?...

Heron...

Sounds like your post is from a Google translation site? Hmmm, true, there are project risk like water, electricity and MRRT tax implications just like every other project will encounter at one stage or the other in Australia. However, it is not fair to simply state the negatives for this is a value play, the value simply outweighs the risk. This is a life mover play for South Australia. Here is a reply to some of your previous one shot points:

1) The reasons to why they make changes to strategy:

Is to maximize shareholder value, given ample funding and strategic partners, it's now all about optimizing the processes. For a multi mine site strategy with a LT infrastructure strategy is awesome and honourable management in my opinion. To have a leader who puts the needs of the company first.

2) Ports agreement:

SA Government declared a "Major Project" status for Centrex metals deepwater port plan for Sheep Hill. A HOA has been signed where WISCO will be assisting Centrex in financing its share of the port (Read last page of 151110 announcement). Formal agreement to be completed shortly.

There is a real economic and social benefit for the infrastructure development. Not only will this open up the State's job opportunities and revenue, it will increase the value of land and other tenements in the area!

Note: 151110 Chairman's address "...well backed and funded joint ventures? current and proposed activities"

3) Cash:

- MC: $124m @ $0.40.
- Cash on hand: $59.5m (Note: July 2010 paid $102m by WISCO; $50m deposited into JV exploration account)
- Unconditional Future Cash due Jul 11: $26m
Total Cash: $85.5m
Estimated Total Cash if you include exploration expenditure as a free carry interest: $160.5m (85.5+25+20+30m)

Details:
$25m = Share deposited into JV exploration account, $101.5m paid to CXM July 2010
$30m = WISCO exploration free carry interests share, first $75m exploration paid
$20m = Baotou JV project expenditure to cover
- Exploration expenditure = Why is this significant? Is like having $75m in your company books for exploration purposes, no CR required!

Potential Future Cash Flow:
WISCO potential 4 stage payments on milestone: $108m

Comments:

According to the JV all project financing funds required by CXM will be provided for. So CXM won't have to spend a cent on the project, except for interest expenses etc which they have more than enough cash to cover for. So capital expenditure of any sort is not a concern but rather should focus on both the size and quality of the drill results as per last announcements. CXM have 6 rigs working full time, 5 diamonds, one RC, bring on the results! Looking forward to the quarterly, possibly by this Thursday!

Holders, you are investing in a company with quality management. Centrex, is a company with full financing support, cash of $160.5m inclusive of free carrying interest in exploration expenditure, a stake of a jackpot prize of $108m if they size up 2b tonnes, land, tenements and infrastructure all for a MC of $124m... a rather safe journey to production!!

I have increased my stake at $0.40 today.

All the best to all holders!

LM