Ann: Non-Binding MoU for Financing of Kola, page-10

Thishas been longtime in materializing, however, it is now on us. Signed sealed anddelivered. Well done!

And most importantly, no shareholderdilution!

Considering the groups involved, very powerful.

SEPCO,Power Construction Corporation of China (POWER CHINA). SEPCO will be theEngineering Procurement and Construction

ChinaENFI Engineering Corporation. Experience in Potash mining and mineand processing plant build

BRPGlobal, headquartered in Abu Dhabi.

The Chinese have a track record inoptimization and building mines, this in record time. They have successfullybuilt a number of mines in Africa, so certainly understand the challenges todeliver.

The UAE has a huge concentration onFood Security. This is a major focus and they certainly see this as strategic,not just about monetary returns.

Equallyimportant is the buy-in and approval from the RoC Government

Certainly, for many, those that havebeen following from the early days, great news.

Lots of hard work ahead, get theoptimization done. Seems the determination to do this is there.