Ann: Market Update, page-60

DRI requires quite alot of gas in the making of pellets. They are the two main ingredients - suitable ore and gas.

There is a nearby gas pipeline and of course it is a oil and gas rich country.

Hopefully our process wont be limited by size based on the capacity of gas available
Maybe Kogi will partly tie in a gas price contract prior to construction.
Or with any offtake agreements, the pellet contract price partly adjusts to the gas price. Note gas price usually is determined by a formular based on world oil price.

I very much hope our project does not have to wait for the govt to make decision on the massive Ajaodkuta abandon steel mill to be finished.
Still we need to be part of the negotiations, as we dont want nearby Itakpe ore mine to be opened and competing against our Abgaja mine.
Is our in-country director Kevin ... an Australian? Hopefully he is very alert and on good terms with govt dept personnel.