Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Message: Equity investment

I expect that any partner announcement will be contingent on the receipt of final Government licenses and permits, but see no reason that the company should delay an announcement while waiting for the permits to be issued.

Nomura has been on the case since year end, which is why I am anticipating them closing a deal soon. Given the interest in this industry, it shouldn't take much more than 6 months to cut a deal of this magnitude.

I must admit that I am growing impatient as the calendar slips by, but still expect the risk / reward ratio to make it worth the wait.

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