frankfurt meeting

The Austrian/Swiss/German audience (50 to 60 investors) in Frankfurt attended a very convincing presentation of ECE/Arafura last Saturday.
Mr. Shao, general director of ECE, seems to be a very dedicated leader and ECE as a major shareholder will provide any support to make this deal a big success.

BSF: plant design in time (Bateman Litwin contracts)
mine design delayed, to be finished 2nd quarter 2010,
mine design is considered a simple task compared to
the chemical plant (leaching, RECarbonate, technical
grade phosacid, separation of Th/U)
Separation of REO/RE-metals in China

Prefabrication of the plant in China will save an equivalent of 80 millions working hours in AU. Prefabricated modules of the plant are to be assembled in AU or somewhere outside China; decision regarding plant site within the next 9 month. Project funding to be settled latest end of 2011; possibly some of the delay may be reclaimed also in this phase.

We exspect strong support by ANZ nominees, voting "For" both resolutions. Personally I got a lot of confidence back and this I share with many I spoke to.
Happy times are here again.
RMIN