Ann: Scoping Study Confirms Outstanding Economics for Chaketma, page-6

yep project economics are compelling.

* very quick payback period of just 1.5 years
* used an after tax NPV10 which is great.
* modest development capital
* great mine life
* fair FX rate used
* very conservative phosphate price used
* great tax concessions (first 5 years of production tax free)
* small royalties payable
* Tunisia looking to double phosphate exports by next year, could perhaps speed up granting of mining concession
* sealed road and nearby rail to port

some decent sized buys went through today. Highest volume traded in 8 months. Closed on the days high.

Some good potential here.

IMO

GLTAH