"phase iii clinical field trials" , page-4

Hi Sailfish

Once trials are completed and data compiled they will file for an interim license - once granted other African countries will take this as a green light - also they will apply for a sanction or recommendation from the World Health Organisation (WHO)- other smaller trials may well be required elsewhere in the world to gain access to those markets but they will really only be formalities - a full license may be a further 6 months away

The interim license will allow them to take orders if they wish

The real deal will be underway as soon as the results are compiled and show the success of the trail after which a number of players will be talking to EMS and serious discussions will be under way shortly after

Whats it worth - hard to say as no one in the company wants to say - but Patersons original estimates where $3 odd and where revised down due to the risk weighting to around $1.50 - my uneducated guess is lowest $1.00 highest $3.00 or somewhere in between

Don't take this as gospel or advice as it is only my view - I would hope that at some point the company gives some direction on the value of the project - given their MO to date we will get that after a deal is done

Sailfish - I do not believe we will sell this product to customers ourselves but rather will sell the project in trade sail - BUT - Mike did tell me on one occasion if the market does not offer a decent deal they will not rule out taking it to the market themselves but I would suspect that would require more capital

All the best

Clyde

At his rambling best today