Ann: Eritrea Potash License Granted , page-5

Very good presentation just out from Allana next door to STB.
http://www.allanaresources.com/docs/AAAJune162009.pdf

AAA has mc at $20 million

& states "BHP has begun to mobilize people, build camps, etc" (BHP next door to STB)

"Three potential joint venture partners have approached Allanaso far"

BHP was granted a large prospective potash exploration license nearby; highly grassroots (Newly granted BHP concession can be viewed in blue on exterior)
„XBHP has begun to mobilize people, build camps, etc.
„XIndia¡¦s SainikFinance & Industries has a potash property adjacent to Allana¡¦sconcession

Allanamanagement intends to secure a strategic partnership/joint venture in order to bring its potash asset to production
¡VOperational joint venture with a larger mining group
¡VStrategic partnership with a financial backer whereas Allanawill be the operator with funding coming from the partner
„XThree potential joint venture partners have approached Allanaso far
„XThe initial talks are proceeding
„XAllanaintends to engage more interested parties

Proximity to three major seaports (closest is 92 km, the farthest is 600 km)
„XNot operating in the backyard of major potash marketing groups
„XNo capacity problems at the nearest ports
„XProximity to India and China
„XFaster environmental permitting process

Very positive that some big co are involed next door.