Finally,we get some update about the sale of the project.We are...

Finally,we get some update about the sale of the project.We are closer to the reward one further step.

But we must be aware of the risk still high.

1. The development of Oakajee Port will influence the final result. " Discussions with some parties have taken longer than hoped due to multi levels of management requiring many levels of discussion and speculation in respect to the development of Oakajee Port"

2. we might need to do the project pre-feasibility, that will take sereral months and there is still risk there if the result is not good. "The Company has given consideration to progressing its scoping studies and aspects of its project pre-feasibility in order to provide greater certainty to potential buyers but does not consider that necessary at this stage. The company is prepared to continue its discussions for one more quarter before recommencing any pre-feasibility study"

3.The best price is analyst's recommendations. So we need to give the buyer some discount.Very possible the price is around 50 cents per share. " the Company now believes price to be the final determinant of any sale. The company is hopeful of achieving an outcome in line with analyst's recommendations"

4.Other option to continue developing the project. "the company retains the option of developing the project and has received several interesting expressions of interest as to funding and joint venture proposals should it choose to do so."

5.The company will make the choice by the end of July if without any delay. " The company intends to build on the discussions to date to fully test interest from prospective purchasers in the following quarter and will make a decision on the future of the project by the end of
the current financial year."


Conclusion: The company will make the decision to do the project pre-feasibility or to continue developing the project by the end of July. The best result maybe to sell the project at the price around the 50 cents per share in the December quater.