Bir El Afou looks to be un-economic so they have turned their...

Bir El Afou looks to be un-economic so they have turned their attention to Chaketma.

Strip ratio 9:1 (5:1 first 10 years). Deposit is not free digging meaning drill and blast necessary. Non-JORC and no met test work but they can base a scoping study on it!

Very suspect to me. I don't believe $62/t cost to be realistic. Would like to see a detailed breakdown of costs.

Much better phosphate opportunities out there IMO. Especially if the options are calculated into Market Cap then it is near 40m at 0.20 with CNLO added. Add in the restricted shares and CNLOA and the fully diluted Market Cap at 0.20 is 50million - much too high.

Personally will steer clear of this one although Chaketma could be very valuable if the scoping study is accurate.