Prince Harry, page-47

and lastly just to summarise to you shareholders what we own.(all IMO)

-we own the largest and by far cheapest to mine SOP resource in the world.
-IMO who ever develops and controls this asset will control the price of SOP fertilizer in the world. So many bigger boys want it.
-It has an estimated 200 year mine life- which is also what the bigger boys want.
-It can be done carbon neautral- which is also great PR.

the asset is friggin massive , and if it were not in previously lost-to-theworld then war-torn Eritrea it would have been mined 50 -100 years ago.
Whoever controls Colluli will control the world’s only SOP Super Basin - It’s hug its like owning
-all of the Gold in the Kalgoorlie district, Western Australia
-Or all of the Iron Ore in the Pilbara, Western Australia
-Or all of the Potash in Saskatchewan basin, Canada

IMO this project can and will
● Feed millions of poor people
● Save millions of lives
● Assure Food security for generations
● Eliminate the need for charity for the African continent
● Achieve goals set out by Bob Geldof & Bono
● Assist in Bill Gates fertilizer solution for Africa:
and improve the lives of hundreds of thousands of Eritreans by making money for their country.

IMO About 30-40 million AUD (off top of my head guess) has been spent so far developing this beast.
-the DFS is done,
-the offtakes are agreed for the foreseeable future on a take or pay basis with Eurochem a 6 billion $ revenue co.,
-the engineering work is all calculated,
-the full development plans on the ground are there and agreed
-,we have a good relationship with our partner Eramnco,
- this project is now shovel ready..... and also sanctioned by the UN.

So all it needs now is the funding to get started and organically grow it of cashflow through production modules 123&4.
off top of my head its roughly 375 -380 mill aud needed.
AUD 40 million of that is already done - 200 mill already secured in debt (after 2 years dd) by some of the largest banks in Africa, one of whom is the also the largest shareholder who bought in at 60 cents a share and (again IMO) from what I hear, are saying they are quite willing to commit more funds when they see more progress on the ground. Under Eritrean law there is room for another AUD 80 million in debt for th project- these discussions with existing funders are underway and also with others.

so IMO all thats needed to kick this off now is AUD 50 mill equity.
- And Im being cocky enough to say here that I'm personally hopeful we can help arrange - working with the co and some Intl and local ozzie investors groups and brokers - the AUD 20 mill soon. (its not a lot of money -we have 3,500 members just in the members and medias of the 10 bgger club -several of whom are billionaires)
- Imo that new equity can then allow the co to get to work on site - then the sp should then go over 60 cents.
- with work on the ground (building th road to the mine -the water osmoisis system, the workers camp etc etc) then I'm also saying the 80 mill balance of the funding loan should be forthcoming soon (IMO)- thats logical this is dream project then for banks to lend to (huge asset and mine life) - then IMo the SP will go to 80 cents to 120.
- then (IMO) when that all happens there only about AUD 30 mill more to raise- and that's gonna be much easier than the first 20 mill now -why? because there will be some FOMO going on by instos who have been spoken to and realise this train is leaving without them- and also mainly because its much lower risk "last money in" - the sort of thing big instos and funds prefer (ie pay a bit more for much less risk)

I'm also saying (again entirely IMO) that as these above steps progress there will be a buyout bid triggered from one of the big guys who want this project and have been laughing the last few years as this project languished and got cheaper. But now its progressing an getting more expensive. so they will go for it (IMO) and that should hopefully kick off a bidding war (imo)

So lets not mess around anymore and lets get it done. To me the next key step is getting the AUD 20 mill equity raised. And to me at these prices or below 60 cents that is not too hard to do. It's a fair price to enter with a most compelling risk-reward ratio.

also on module 3 production all the other minerals (which are not even counted in the dfs now as its based only module one) - they will then be able to be counted in module two production- that includes 1. salt (massive)at USD 50 a ton 2.SOPM @USD 400 per ton, 3 Kirosite at USD 150 a ton, gypsum, gas and a few other ones. These alone are a massive resource weven without the SOP - and I repeat they are not even being counted in any figures yet..


fellow shareholders - Thats what we own !