Could be one to watch towards end of year or earlier. 3...

Could be one to watch towards end of year or earlier.

3 September 2009
Companies Announcement Office
Australian Securities Exchange Limited

The Joint Venture has committed to commercial evaluation of these world class
Namibian Marine phosphate deposits and is currently conducting a scoping study on
their development.
In September/October 2009 it is planned to recover vibracore samples and to carry
out a further set of analyses as part of the scoping study and to identify the best subarea
- in terms of sediment thickness, grade and water depth - for planning of the first
phase of mining.