Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-44

The DFC nexus has not been identified nor will selling the 270kt of B.ore have bearing on the DFC relationship due to the B.ore not being apart of the original scope of the DFC DD.

So if it is a race between DFC or the commercial lenders to fill the void then the race is on. Once LPD have sold enough B.ore to meet the LPD equity funding commitments for the Namibian Karibib mine, we’re off to the races. Well we will see who will be the funder if not DFC.

The way I am seeing it, America is loosing the rare metals race and although current talk is America is pushing further into Africa to seize minerals away from China, I personally believe America (DFC) may make exceptions given the right incentives. Caesium outside Chinese control is nonexistent, and if the US want LPD to fill that order they should keep all options open.

LT-B1