Ann: Maiden Resource Defined for High Grade Conglomerate Bauxite, page-41

I do not profess to be an expert on any aspects of LIN's operations. I therefore need to rely on others who have greater expertise on these matters.

Let me refer you to the views of Far East Capital back in April/May this year.

"We guess that ( THE JORC) could be in the range of 50-70 Mt of potentially very profitable ore that could be trucked to plants in Guinea. Back on 7 March, we opined “If Lindian was to mine the ore itself and sell it to local plants, you would expect it could net at least US$10 pt. If it did so at a rate of 5 Mtpa, that would generate cash flow of A$75m p.a. for 10 years. Capex would be minimal as it would be contract mining, though maybe it would be even smarter to just take a royalty. "


".........typical Guinea bauxite grades of 45-48%"

"The Company is continuing on its path of more completely defining the resource size ahead of a business plan to maximise the return to shareholders, probably by selling very high grade bauxite to local producers and exporters to minimise capex and to maximise cash flow."


# Now the range is noted as over 100mt.
# Option to mine the ore and sell it to local plants. The word PRODUCTION used in the announcement instead of mined and transported to neighbour.
# Royalty income a possible option.
# Grades higher than local deposits …."Indicated Resource of 102M at 49.8% Al2O3.The Resource includes high grade areas with 84Mt at 51.2% Al2O3 "

The geologist's opinion is paramount and not posters.

I am waiting for the appointment of a MD who will take the company down the path of exploiting the two bauxite resources and maximising the return to shareholders. Its early days.