Ann: Minbos Investor Presentation - August 2011 , page-4

re: Ann: Minbos Investor Presentation - Augus... According to mapping, intersections, head grades, true widths and depth, Cacata is much bigger then their flagship at Mango Tando.

I am also really interested in the assay results from Cacata...something just tells me that the numbers are coming in close to historical figures. I have emailed the firm inquiring the spacing of their drills and historical drill spacings to get a better idea of the size of their projects. Perhaps they will put that in their next key announcements...

Chibuete and Ueca also look like promising additional satellite deposits to the Cabinda project. Cacata is a Direct Shipping Ore potential [DSO] as it is really high grades, thick and offers better economics and width. It was interesting that the firm pointed out the barge routes to the various nations for investors to analyse and understand.

Transport is one of the biggest costs to a phosphate project...MNB has the lowest costs among its peers. Grades are also better than its peers...

Hopefully the firm goes on a roadshow to put their numbers out to investor groups.