I have answered my own questions from Korab's website and...

I have answered my own questions from Korab's website and related sources, which I have cut and pasted below.

Note 1: I have just noticed that GeolSec is already a P/L
subsidiary (another spin off in the future?)

Geolsec Phosphate Operations Pty Ltd (GEOLSEC) is the operator of the GeolSec project. Australian government agency, Bureau of Mineral Economics estimated that Geolsec project, which is located 65 km from Darwin, contains approximately 1.3 million tons of rock phosphate grading up to 39% P2O5 and with an average grade of 12% P2O5.

Note 2: when Korab refer to GeolSec as an "organic fertiliser", I think they are referring to the slow release of P from the pellets, as distinct from its fast release in soluble forms like DAP. It also has calcium (Ca), reducing aluminium ion saturation of the soil. The latter is a problem in acidic soils. (It is all coming back to me now - I used to own a vineyard in my days of madness!)

Because of the deposit?s location, its structure and its characteristics, the development of the GeolSec deposit should have a negligible environmental impact, said executive chairman Andrej K. Karpinksi.

?Furthermore, through the development of the GeolSec deposit as a preferred supplier of environmentally friendly organic products that can be substituted for soluble fertilisers, Korab can contribute to solving soil salinity and water pollution problems,? he said.

Korab?s GeolSec rock phosphate deposit is located 65 km south of Darwin on the outskirts of the regional centre of Batchelor. Korab is intending to develop the deposit as a simple quarrying operation capable of supplying pastoralists, organic farmers and other users of phosphate based organic fertilisers.

The GeolSec deposit is located around 1 km from the grinding mill and is accessible during both dry and wet seasons. Local infrastructure includes a sealed highway, railway line, gas pipeline, high voltage power and potable water.

GeolSec is slated to commence production in 2010 with a targeted first year output of 15,000 tons p.a. to generate a projected pre-tax gross profit of around $5 million. GeolSec will be targeting a second year profit of $9 million, and a third year profit of $12 million.

This represents a targeted pre-tax profit of $26 million over three years commencing in 2010.

At this level it would generate a revenue stream for Korab, with gross profit of 33 cents per share over three years.