valuation, page-19

BTU's coal or BTU

BTU's coal:This Will not be a hard sell on international markets. BTU's marketing guy is ex BHP so he will allready have the phone #'s. 1 offtake agreement in the bag and another close to end game. I dont see why BTU would embolden a middle man when they can do it themselves.

BTU: NZ ministers are already talking BTU up as the near term saviour of Greymouth Jobs. When talking about Stocktons prospects of expanding they are only talking about the possibility.

There are no certainties on this earth but I am certain there is little rock solid in your musings. I'll sit tight with news just around the corner.

Viney