Ann: Scoping Study for the Tampu Project, page-20

Even if one were to accept your absurd sentiment regarding kaolin into HPA production, the scoping study contains two projects; one for kaolin into HPA production, and premium Kaolin for porcelain, paper etc. As you ought to know, the latter is the conventional usage for kaolin, and as such the scoping studies' capital costs are based on numerous pre-existing kaolin projects. Thus, you CANNOT critique those figures quoted, unless you wish to accuse CSA of malfeasance or incompetence. Thus, CR9 still has a radically profitable project in just a basic kaolin mine, with an NPV of over $1B and a return on capital investment in under two years.

So, even if one were to accept your sentiments regarding kaolin and HPA production, this scoping study shows great promise for CR9. You can now bugger off with your nonsense, or continue on your course of misleading and possibly defamatory statements.

P.S. Please drop the sanctimonious charade of being an advocate for retail investors against hucksters and mountebanks. You persistence in down ramping CR9 can only be explained by a personal grievance, so drop the act and cop to what your problem with management is.