tonydawes, page-16

Hi guys

My apologies for not responding to your posts soonner but I didn't want to reply until the announcement about the acquisition of Kondor Holdings was made public.

As you can all see from this announcement BWN remains committed to developing a strategic position in the heart of the Bowen Basin. The EPC1045 Shotover coal deposit is directly south of the ground held by RCI (Rocklands) so this is an area BWN knows well. They are very confident the tenements held by Kondor have the potential to host a significant quantity of coal.

For those of you who wrote BWN off after the RCI bid, I hope you'll take a second look at the announcement. Mr Bill Hayes, who is a former director of Kondor and has agreed to provide consultancy services to BWN to help develop EPC1045 (Shotover), is the former senior mine manager at BHP's South Blackwater coal mine, which is immediately north of EPC1045. He knows this area better than anyone, and will be working closely with BWN to develop a JORC compliant resource, as the first step towards developing a new coal mine.

As always, I urge you to do your own research, but I hope this reply helps answer some of your questions.

Regards

Tony