platinum recovering nicely, page-13

The short term price of just about anything is difficult to predict at the moment but the important thing for an explorer is that supply remains in deficit and where they are likely to sit on the cost curve.

The issue of sovereign risk is important and also related to production costs. African explorers (and not only in Zimbabwe) will face a difficult time raising finance in the current climate. Even if they are able to it will come at a much greater cost. There have been so many production problems with electricity supply, strikes, lack of skilled worker, mine accidents - the potential for civil war and asset confiscation are just icing on the cake.

This is another major competitive advantage for MMB. With the majority of existing production and reserves in Africa, being in Canada should make them cheaper as well as lower risk.