Hi

Peter, thanks for your thoughts ... one may be able to interpret what Wes was saying, that some financing etc. are in the bag, but I don't know if I could conclude that from his presentation. He did address financing, and said he didn't want to dilute. That doesn't mean he won't imo. 2 years ago at the AGM, he was asked if he was concerned about dilution, he said yes obviously and mentioned that there was no dilution on the horizon ... not 1 week later did he announce a financing. So, at this point I don't believe anything he says about dilution and financing. I hope you're right Peter, and there is no dilution coming.

Re gov't infrastructure financing: From what I have heard, the government(s) will be contributing, how much and when are the key questions to unlocking some of the value in ROF, as we all know.

FYI, re roads, NOT has built a small 1 km road heading out of camp, which will cut down on helicopter costs.

I like your assumptions Peter, but I do have trouble assuming anything with this group at NOT. "They" say it takes about 10 years for a mine to go from discovery to production ... well, NOT is right on track. ;)

Inca, correct, I didn't include the chromite. I just used the numbers from the NOT Eagle presentation, so that $1.21 shareprice needs to be adjusted for the chrome.

I don't know if I have added any value with this post ... maybe it's more than a work in progress! :)

Cheers

MGB