trail shipments, page-22

How about some perspective! The shipment is not a SP trigger at all. It has been so well flagged in the market and therefore factored into the SP that it should have no impact at all.

What it is however, is a tremendously exciting and symbolic event. It is testimony to the vision of BRL's leadership, the hard work of the whole team, and the remarkable speed with which BAU has moved foward from listing barely 24 months ago. Quite incredible in fact. All long term shareholders should feel very proud. It appears they have backed a winning horse.

However the big SP rerating triggers going forward will in my humble opinion as always be:

- Acceptance of the trial shipment by the customer.

- Conversion of MOUs to concrete Supply Agreements (at nice prices, preferably profit making!).

- Agreement to build the refinery.

- Environmental approval for same.

- Exceeding production ramp-up targets (>3mtpa)

- Substantial Resource upgrades.

- Another strategic placement at a SP premium (would be especially nice!).

What else?
- how about a hostile 3 way takeover battle between Chalco, Alcoa, and BHP. That ought to really put some fire under the SP and send it above ... say $5? (see disclaimer below)

- Successful acquisition of Alcoa to create the world's largest Bauxite-Alumina-Aluminimum group. hmmn say $15 plus...?

- Dominant price making market position in a badly supply disrupted market leading to record prices (over $50!)

Ok -now I am the one losing perspective, but hey one lives in hope! With these guys one could be forgiven for thinking anything is possible.

So plenty of really exciting news to look forward to and hope for...

DYOR (some of the above may be wishful thinking)

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