Ann: Quarterly Activities Report , page-3

Took a stake today for the potash. ERCOSPLAN are the same consultants who worked on STBs Colluli deposit which is starting to yield some decent drilling results now.

I/ore is a slow burner as it will need a 200mt target to be firmed up before the train line can be extended to Shoemaker and neighbours. H/e the Mid-west is coming on-line rapidly now so not pie-in-the-sky anymore.

Crazy m/c based on potash prospectivity alone. Mongolia is emerging as a mine-friendly frontier.

Happy for an entry below the IPO price.