Standard Bank, page-26

Hi Hot,

Just before Jill Thomas was shown the door I asked her if SDL having to upgrade to EP3 standards was holding up financing the project.

She advised that this was not the case, rather it was generally understood that EP3 compliance would be achieved in due course by 30th June.

Jill said she thought that the declining iron ore price was more relevant to ongoing funding talks.

Maybe that's why EP3 wasn't mentioned specifically in Qtrly?

All the same, it would be nice to know how/if EP3 is progressing.

Cheers,

Samson