arafura and incitec pivot phosphates agreement, page-13

Have to agree TCG, bit light on detail but the important phase yet to come. Have no doubts that we heading in right direction, the BFS in 2009 will be the proof of the puzzle.

Note guys that Mick is only a stand-in chairman for Peter Walker who got the big C and subsequently passed on. Board is grooming the newbie now, announcement probably will be at the AGM after the Rare Earth conference in Hong Kong 3rd week of November.

On the options, have thought long and hard on this matter and came up with the conclusion that the people receiving options will need to earn them, so will vote in favour, but will be requesting at the EGM meeting that a provision be made to escrow the shares, if converted to 2012. This will ensure that they { ie the options } would not be tooooooo generous an offer.

In todays market place, you pay peanuts, you get monkeys, so especially here in the west with the resource boom likely to last another 10 years at least, good people are hard to find, and harder to retain. Pirra has youngest son, only 33 earning $300k plus in the Pilbara, with nowhere near the qualifications of some of our board.

Arafura sitting on the best piece of dirt in the NT, just ask the boys at Compass, their sp down from $6 plus just a year or so ago to 67 cents today, and they go into production next month, why ?????????? just read the CMR thread.

PATIENCE, what a virtue, we have the right company to make all holders very wealthy. Bring on PRODUCTION, 2010 would be nice.

Time will tell. Always does