facts

Fact No 1.
Rincon Salar is six months ahead of budget - pilot plant is being installed now. The iron ore was delayed due to port shipping constraints not production constraints.
Fact 2.
Funding options are still on target,three levels of finance in place but basically will continued with interest only convertible notes then switch to trade finance.
Fact 3. (Re -Rap'e Mine)
Nothing at the moment as we have brought forward Rincon by six months so we don’t have the technical resources at the moment but also we have to get our environmental permit approved and an anchor client for boric acid, or sodium tetraborate or pentaborate which I am working on and making good progress.
Fact 4. (Estiamted timetable for Rincon Salar)
130 tonnes a batch of evaporated brine in the pilot plant by feb 2007 subject to lots of other issues, but hopefully still on track in June 2007 for commercial production.
Fact 5. (What to do now?)
Buy more shares !