Ann: Fremantle Explorers Presentation, page-36

Hi Benz,

A definite upward trend. $5 and beyond coming soon. If the lenders force our hand on hedging we might not be so happy this time in a rising price environment.

There is a bit of sad news about the spread sheet I transferred all my data onto a new computer and can't find it. Maybe the Russians have cyber attacked the little cloud where my data is.

Always good to have a project and something to do I'll just have to build a bigger and better one thast goes faster like the new computer.

I guess you don't need a spread sheet to track the effects of price rises.

The only cost I'm aware of that definitely relates to price is
* the 5% royalty paid to the SA government.
*There is more than likely a comission/discount which goes in the off takers favour in the offtake agreement