"I am pleased to be able to inform shareholders that Bisichi Mining has never been in a stronger financial position.

Bisichi made a trading profit in 2007 in excess of £2.3 million, group gearing fell from 22.4% to 15.2%, we have over £3 million on deposit, we expect shortly to commence open cast mining at Black Wattle Colliery, opportunities to acquire new coal reserves in South Africa have never been better, and income from our property portfolio remained steady. The headline loss for the full year, which arises from the way in which we now have to treat unrealised gains and losses in our property portfolio, therefore disguises an exceptionally strong performance by your company. "

See the full announcement in the 2007 Final Results

Michael Heller, Chairman

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