posting on this stock, page-6

Amazed,

One issue that may be clouded by the research report is cost of product.

at page 4, just above the ROI table:

That said, and cognisant of other considerations noted above, TINCOM may accept a lower (and even substantially lower) ROI on its investment. The preliminary arithmetic provided by the company suggests a cost (and after netting off the return on water available for other uses) of around US$40t (~A$46t). This estimate excludes shipping and transport costs, but implies an ROI at the factory gate of 13.7%.

and at the top of page 8

Increase plant capacity in four phases over a 10 year term to reach 20Mt/pa (from an initial module of 167kt/pa which will cost A$50M).

In the figures we were looking at a week or so back the coy was suggesting $18m for the first 150ktpa unit.

This leads KPM / Intersuisse to a very high capex for domestic production of the product.

Hence my earlier comments about cost.

Rgds

f111