Ann: Sales Contract and Commencement of Railing , page-7

re: Ann: Sales Contract and Commencement of R... Chava, These specs represent an excellent Bx - similar to high quality Bintan or Sierra Leone, and better than some Indian. They are above what would be the eventual life of mine grade for 150MT reserve stated in the earlier refinery MOU, but I suspect there would easily be enough BX at these high specs to allow high grading for several years at the 1-2 Mtpa rate for a DSO operation. The partners would appreciate you can operate a refinery efficiently on the lower grade for a 150MT reserve as the existing WA refiners do.

drbrooks if you worked on the basis of $US35-40 FOB you wouldn't be far off, but at this stage it wouldn't be as much about the money but as to show the stuff is good.