Hi all,I had a chat with UCL's John Lemon this week... UCL seems...

Hi all,

I had a chat with UCL's John Lemon this week...

UCL seems more focused on raising capital than releasing any JORC figure as yet. Also, the june announcement is what UCL has in terms of field data for the phosphate project, no more no less.

I also called UCL's "competent person" Les Davis...

Few issues with the dataset have been raised in the announcement and certainly contitute part of the challenges of establishing an early JORC compliant resource. That includes uncertainties re. drilling methods, sample prep and analysis, origin of local grid and sample grid spacing.

Having said that...

My understanding is that the northern most area that has been more densely sampled (~2km grid and which I happily discarded in my pervious resource estimate) may qualify as a 80Mt @ 17.2%P2O5 Inferred JORC resource (10 x 1km x 1km x 4.4m x 1.8T/m3 ~ 80 MT).

In itself the northern most area would need further high density sampling to push the resource into higher JORC compliant status, which in turn would get the project moving into the Pre Feasability Study stage.

For that UCL needs capital, so I am quite happy to hold without any breaking news re. JORC but some positive ann. re. fresh money and willingess to get out there and do critically needed field work.

I wish to invite UCL holder or holder-to-be to keep hammering UCL's office with phone call to show clearely that we have a great project in our hand and we need to get this sampling done in Namibia (the summer season at sea should be more bearable than the middle of winter) ASAP so we can commit to develop Sandpiper way before 20 april 2009.

Imo, UCL with 80Mt @ 17.2%P2O5 Inferred JORC resource is still ahead of BON.

cheers