agm, page-14

Micam,

Your posts add an excellent contribution to the discussion, incisive questions and candid views. I agree with the earlier posters that we need more of that, and less of the talk ones book ramping.

I too came into STB for the nickel with similiar views of, and longterm holding in IGO.

I've read Grammer as a geologist, not a miner, a nickel specilist and not a typical boardroom type so not surprised by your comments. In my experience these types typically move aside as the company develops, so not too concerned, he's done pretty well for us to date.

As for the potash, once again agree to big and complex for the STB management, but then they've already indicated a spin off or whatever, and I'd expect an injection of suitable tlalent then, or a sell out. Too big for STB perhaps, but perhaps a path like MCR followed with Tethyan might be what we should hope for.

Good to have someone not taking everything at face value, eg your queries wrt the shallow water port. I also support the relevance of the comments you made about Laos.

Regardless, keep up the excellent posts. Such candid and considered input far superior to my rambles, or to others obvious ramps. The sp seems undeterred by your posts.

EL