BMX Auction 24/05 Tipping Competition, page-34

Hi ya tobiasroy, Q&A from last Q 1 results

Glyn Lawcock

Okay. So just to clarify then so when you get Ngungaju to up at sort of 200,000 tonnes per annum, I guess we’re looking at sort of 16,000 to 17,000 tonnes a month roughly. And you – would you do that in one auction? Or would you be running sort of a couple of months just trying to see how you might try and judge the liquidity, because obviously it’s a liquidity versus price or it has an impact as well?

Ken Brinsden

Yeah, no I agree with that. We basically looked at parcel a cargo consistent with what we’re trying to achieve the team on the shipping front. And what that means is that an option would probably be in the range of you know 5,000 to 10,000 tonnes per cargo. The benefit that we get in that is to be able to either parcel it as a whole, so it lowers the cost of freight or parcel it with another vessel that we’re already sending you know north anyway. So logically in the range of 5,000 to 10,000 tonnes per auction, and yes, they would become more frequent as you described when the Ngungaju production gets its stretch.

Sheesh, game on , spod for cash ..a catalyst!

So we don't know volume or concentration, but we know the outcome multi millions of US$$$

Exciting times, yes indeed, loving it, fabulous.