Ann: 1Q 2018 Operations Review, page-3

Exceptionally strong revenue number in the current circumstances.

Revenue of $61m which is a full quarter of last years $224m in spite of

* TTI being virtually shut down for half the quarter due to the gear box failure

and

* GCO plant operating at 79% of capacity, due to TTI's problems and rail transport disruptions.

The next quarter could well be brilliant given Rio Tinto's additional problems at Richards Bay causing supply constraints and resultant price pressure.

Looking forward, the price forecasts should deliver an exceptionally strong EBITDA.