Ann: Encouraging Results - Recommencement of Dril, page-7

re: Ann: Encouraging Results - Recommencement... Mal85,
they have historical drilling documentation of 45,000 metres at the Cabindi prospect prior to the drilling campaign. As such, they are drilling to delineate the resource to convert to JORC compliance as well as to observe the reliability of those historical figures. Currently, the results obtained are far better than those numbers. Kanzi discovery is also another bonus for MNB's future.

MNB's key is to convert all those resources to the measured and indicated status. This will take time but they are moving along quietly with their operations. Another important aspect that effects the overall cost of phosphate and potash mining is the transportation cost. In most operations, this variable plays a huge percentage of the overall cash costs...however, in MNB's situation, this figure is miniscule at $5/tonne. Infrastructure is also being built and roads and ports to the sites are already in place.

Aside, phosphate rock prices have also increased approx 20% to $160-180/tonne from their estimates of $140/tonne.

This will move back to its previous highs once market sentiment moves back into agriculture.