2c this week, page-17

Hi JSSF

If you read the last quarterly they have four deal being looked at/negotiated.

It appears the closest one is a titanium deal with an Asian group.

Don't know who

don't know what.

But a completed titanium plant is worth around 70/80/90c /share to be discounted back obviously.

The acid regen/nirp plant which are also being negotiated -

I think one for funds to complete the existing Newcastle plant and the other 2 deals.

The complete acid regen plant in Newcastle will earn around 2/3 cents per share in 12/18 months after funds arrive.

The other plants my guess would be somewhat larger earning around 12c/share once operational however these would have to be either financed, JV or license.

Hope that helps