Ann: Audio Broadcast , page-10

Danube, on the Namibian project, I think the technology to get the stuff up off the seabed already works. That artificially created palm tree island in Dubai was created with suction dredgers. The Dutch probably are the world's leading experts in this sort of thing (land reclamation) and the San Cristobel dredger can already operate at 175m depth. I imagine (so you need to check this out yourself) enough of the 1.5 bn tonnes of the project lies within the depth of 175m to get out say 6m tonnes p.a. (which concentrates down to say 3m tonnes of saleable product?) for a few years. Jan de Nul claim to be able to extend the working depth to 225m and of course the max depth for the entire project is 300m. On the issue of whether it is environmentally friendly or not mining like this off the seabed, what I would say is the rubbish (clay?) from the process originated from the seabed so nobody can accuse us of pollution if we drop it back on the seabed. The only problem is the "dust" which might annoy the fish and the fishing industry. As it is 60km off shore, there shouldn't be a problem with the tourist industry. Signing off reading posts now until the Xmas holidays. All the best. P.S. you sound like a wise investor not falling in love with MAK, and you make a good point about comparing the viability of Wonarah with that of an iron ore operation!