the meeting

Have pages of notes so will run through them and just put them in as I remember - not responsible for errors...just trying to help the folks over east.....

Paul Jury did most of the talking..

- Has enough money now to get to BFS which is where they want to be
- Steve Mathews in Sydney
- Michael Hunt overseas
- New Website
- Uranex has significant mineralsation to be re-confirmed
- drilling in SA 2 days ago
- still awaiting Tas gov approval for 2 to several licences
- PJ attracted by Waterburg being a sleeping giant
- 80 holes on Pan remaining 18 on Lisborn and Zoefontain
- 128m thick coal seam ours close to surface
- on 2 major faults - lifted to surface - ours on one end of surface
- 25 holes gave resource est at 738.8 mt
- finish rest of holes by April 09
- Then analysis of data - to July 09
- Figure increase - likely!
- Not so concerned about larger resource wants to know bankable reserve
- Steve Mthews going to SA to address some of the challenges like access port/rail etc
- SA has a sophisticated coal industry
- which means reduces soverign risk
- PJ very excited about TAS prospects
- cammeroon - need to confirm level of mineralisation but access is the challenge there
- Maybe lever off Sundance infrastructure once build
- will mine SA within 3 years
- Reg office now Sydney
- Exarrow have the drill data but want 50% of the project to provide - PJ said gives an indication
- Will try and provide news every quarter
- thought the SARB approval was a big tick and validated the BEE
- he and steve were brought on as they have considerable ecpertise in building coal mines - a physical operation
- after 12 months and BFS - they will be able to attract further big insto's
- was very hard to raise money in this climate
- at present being small they had a credibility issue
A person from a capital investment company stated that they have been in CDS from the begining and will be there right to the end
- will raise capital later post BFS
- PJ and SM have taken a serios potision in the company
- they are focused on maximizing shareholders returns...
- Resource Generation (RES) the new company name was Paul Jurys personal private company name and was happy to see it go to this venture...
Thats all I have!! :)

My view - this is going to be massive but is going to take longer than 12 months - Its a true investment strategy...