ceo q & a, page-2

Iron Ore Project Chile
The design for the mining engineering extraction process to be adopted has been completed.

The decision has been made to process the 3,000,000 tonnes of iron ore contained in the fines dumps prior to the extraction of the 38,000,000 tonnes of the alluvial and hard rock vein lump iron ore. There is no cost of extraction for the fines dumps only secondary separation. This will substantially reduce the cost of production.

Final quotes for the plant configuration have been accepted and the plant has been ordered. The installation and commissioning will be completed in September 2005 allowing production to commence in October 2005.


Total projected annual revenue for the sale of 1million tonnes is US$38,000,000 and for the sale of 3million tonnes is US$114,000,000 (year ending 30 June 2007)


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Hazen Phase
chemistry report


Rincon Salar Argentina -99.6% pure lithium carbonate produced

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Rincon Salar Project
Design by the chemical engineers of the extraction process for the key resources which are lithium chloride, potassium chloride, sodium sulphate and boric acid has been completed.


The company will produce 12,000 tonnes of lithium chloride, 40,000 tonnes of potassium chloride, 12,000 tonnes of sodium sulphate and 5,000 tonnes of boric acid each year.


The total projected annual revenue is US$44.85 million (year ending 30 June 2007)