Ann: NGAKA POWER STATION MOU SIGNED BY NDC , page-7

Should be some news due out in the coming weeks apart from the BFS by the end of August.

From the last quarterly..

"A drilling plan is being developed for the new tenement (PL6285/2009). Shango, the geological
consultants for this project, are expected to have this as well as other drill programmes available within
weeks." That was on 30.07.10.

Interesting to note that also in this report ATQ said they were in INDIA to negotiate the EPCM (Engineering, Procure, Construct and
Management) of the Power Station, however it appears that China has won that deal.

It wouldn't suprise me really as I work in the manufacturing industry and we source our parts from both India & China....and the Chinese parts are to a higher standard by far. Not perfect by any means...but much better than what comes out of India. In terms of cost though Im not sure there's much difference.

If the power station doesn't get off the ground, its not the end for ATQ by any means as there is still the local coal market to support as well as potenial exporting.

Personaly in terms of % Im pretty exposed to ATQ and fighting the urge to risk more capital with this great story. After all there have been so many "great stories" Ive invested in...which haven't quite worked out yet.

Once bitten, twice shy I think :)

Sell orders are placed to sell into a rising sp by the looks.