LOL Nick ...Anyway another box ticked, nice move and it's...

LOL Nick ...

Anyway another box ticked, nice move and it's looking very good.

?Using the funds from the placements, rather than the previously announced debt facility, to accelerate the acquisition of the New Coal Leases will place the Company in a stronger financial position to rapidly develop the Vista Coal Project. By the end of the December 2010 quarter, we will have completed the Pre-feasibility Study while having retained all of the off-take and marketing rights to our coal and will still be debt free, which is a significant achievement for a Company of our size and a project of this scale.?

The placements will settle by:
? Share Placement - the issue of 55 million ordinary shares at $0.80 each to raise
$44 million; and

? Private Placement - the issue of convertible notes with a total face value of $36 million, which will automatically convert at $0.80 each into 45 million ordinary shares upon subsequent shareholder approval.