Ann: Africa Down Under Investor Presentation, page-16

There is speculation on the possibility of further delays to the DFS. Delivery of plant equipment is underway and that would be in the critical path of the schedule to production. The DFS is not. Whether the DFS has another minor delay or not, I'm very much looking forward to it. The fundamentals continue to improve. The DFS is in the hands of consultants. If they are the reason for a delay, It doesn't reflect on management IMO, at least not if management is relying on guidance from the consultants on the completion date.

I like the flexibility to produce super phosphate being included in the DFS. The price is more than double the price of phosphate rock which itself is up around $320/t. Super phosphate is at $736/t. That allows for significant upside potential to the DFS NPV. The flexibilty to produce 3 products allows the company to change the mix based on demand and prices and higher demand for any one product usually flows through to higher prices.