Investor Presentation, page-409

Hi Henry, perhaps you need to read my post again, I never claimed it was lowest cost,perhaps you just thought I said that, so sorry I don't believe I need to substantiate something I didn't say (though of course the Mods are the final arbitrator on that)

The basis of my discussion point was the lower selling prices you mentioned and if companies like PLS and AJM can still make healthy margins at those prices you mention due to a lower cost structure then what is the likely impact on higher cost producers who may struggle at the lower selling price levels. And what is the impact on those existing customers of high cost producers if they end up paying higher prices for their raw materials. Can they effectively compete against those paying the PLS/AJM prices levels that you mentioned.

NB: I won't provide a definition of "if" as I believe most people know it's meaning.

Thanks