Ann: Shareholder Update, page-7

Cement agrigate...really? I won't lie, I hold 690K shares in a magnitite producer who is now an cement agrigate miner (in a foreign country). I know nothing about this market even if it is possible to transport to required locations it's going to cost a lot of money. You are talking about a material that is more ubiqiutous than salt water. Who and where will our customers come from, have we even obtained any forward selling of this material? We would need to sell to cement companies around the world to even make a bent on our bottomline profit.

Before we all rub our hands with congratulatory glee, do the math on the price per ton of agrigate, less licences, labour and machine costs, transport costs etc. FHS needs to crunch some numbers giving us low end profit magins, costs of plant and equipment, staff and contractual agreements with companies willing to buy our dirt!