Broker Data, page-64

Surely, the next meaningful announcement is just around the corner. It has been a relatively quiet start to the year but l know that a lot of hard work is being done in the background.

Mencel and co will get Ardmore up and running at full capacity as efficiently as possible. I seriously believe that Ardmore binding agreements, mine engineering progress, direct sales to farmers and political support is all in the wings waiting to be announced. As reported by Centrex, rock phosphate prices continue to rise.

My only criticism of the company is that the public relations and promotions division is nowhere near firing on all cylinders. The company would attract even more investors if they (1) produced a pre-feasibility report and included the recent rock phosphate figures for our high grade and high purity resource; and (2) communicated that additional drilling to increase the mine life beyond 20 years rather than 10 years is in the pipeline. My belief is that we are looking at 200 million plus minimum profit per year and the resource can potentially over double in size. Remember, we are valued at way under 100 million which is crazy.com.

Keep the faith. l am still continuing to buy. CXM is also a sitting duck as a takeover target and that eventuality would not surprise me either. Happy days and blue skies ahead.