Ann: Sandpiper Project - Pilot Plant Progress , page-13

re: Ann: UCL: Sandpiper Project - Pilot Plant... Good points arsenic, I like the sound of saving costs such as you point out with CNQ. I always liked the story with the tungsten at Mt Carbine, but bailed on RAU when they couldn't land the deal and III got it.

I do have a concern about UCL's ability to raise their part of the Capex for the JV. It would be great to be able to start a simple dredging and beneficiation operation for less than the stated capex by being resourceful.

Also bullish regarding rp fundamentals, now that the lowest grade Moroccan is at $200pt, World Bank Pink Sheets out show $198.80. Hopefully we get more than $100pt for 28% Namphos if we get acceptance of the product and the right customer.