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dapper, you are right that the progress that we have all seen occur has not translated into the market cap it deserves. I think this is partly due to tight-rope act of balancing government and external partners etc.

We have covered the FT and CR activities at the 2nd half of 2012 in great detail. In those discussions it was clear that the entire small cap sector and in particular coal stocks were under real presure.

Do not for a second think that Ian does not realise this. According to the recent incentive package, he has taken a base salary cut of over 20%, with the rest to made up if certain targets are met. This is stark contrast to those across the road who voted in salary increases for their management for delay upon delay.

If this does not show a man of integrity and taking resposibility for the company which he heads, I do not know what does....