Ann: Investor Presentation, page-49

I honestly spent two minutes putting projections together just to show the potential. But Eddie‘s cut is a valid point, as well as other holes, like I have shipping in dry season. Would that be possible from the ISP? All I tried to do was to give a bit of time for some polishing of the logistics, start on a low base, and then increase shipping by just over one extra barge per month. But I will take a look at the Eddie‘s cut in previous announcements as it is something I have not really looked too deeply into.

It by no means justifies 6%, but one thing to take into account is Eddie pays for something like 80% on loading. Anyone who has run a business will know that payment terms are not always so favourable. I have clients with standard payment terms of 60 days, and quite a lot need chasing after that. In the early months when we have little cash in the bank and need to continue mining irrelevant if we get paid on time or not I think Eddie‘s early payment will be invaluable. Also consider there maybe customers who never pay e.g. go bankrupt etc Eddie is carrying the risk of that and the admin of getting paid.

And just for perspective we have less than $40m debt, so once we are up and running that could be cleared in around a year or two which means no nasty interest to pay.

anyway I won’t comment too much, it was never meant to 100% accurate, just a point of view.