Ann: FNN Investor Presentation Sydney 20th February, page-142

vorn,

Without wanting to dampen your enthusiasm there are a couple of points that I would like to correct if I may. During my conversations with T.B this is what I remembered which differ somewhat from your post.

I think these are relative points.

Anything above 99.95% is classified HPA

99.95% sells for US $5,000

99.99% sells for $25,000

99.999% sells for $50,000 +

(To date, as far as I know the best result they have achieved with the new process is 99.98% .... but it seems they know what the residual impurity is and working on it)

The PFS needs the 99.99% to be able to use the mid priced number

40,000 x $25000 is not $2 billion, it is $1billion and it's also worth noting that nobody supplying 100% of the market would achieve that price.

Its also worth nothing that when T B speaks about this project he often gives this figures as an example of the future potential of such a modular process route with near unlimited resource .

He always makes that clear, certainly when talking to me.

Cheers.