umc fax, page-51

Hi (bungy234)

I think the October 22nd 2008 announcement gives a fair idea of what is going to take place.

Please read and take note Page1,They talk about $17 million lasting at least to middle of 2009.And bottom of this page about third party equity and/or joint venture.

Page 2 The preferred development option near the bottom of the page.

Page 3.bottom third of page.Preliminary Financial Model. And The base Case average realised price FOB.

Pages 4 External Factors point to a deal taking place at the mine site.Pages 5 and 6 I will let you work out what is in them.The qualifications and Assumptions worry me a bit,but I will be honest a lot of what is on these two pages I am not totally clear about.

Regards
Westcott.