lake disappointment timetable

The following info is taken from a RWD presentation released by the company on 28/04/08. This was after Reward had signed a term sheet but before a mining and ILUA agreement had been signed with the Martu. Even though it's 4 years old, IMO it gives somewhat of a good (albeit rough) indication of what news flow we can expect over the coming months, and it also shows that in IMO the long NT delays are nearly behind us (last I heard heritage survey to begin next week) and serious progress will be now be achievable.

http://www.asx.com.au/asxpdf/20080428/pdf/318rz4zcl6s6m0.pdf

Here is the timetable from the presentation - subject to approvals.

May/June 08
- Finalise the mining agreement with the Martu (complete)
- Appointment of key personnel
- Initiate environmental studies and mining approvals

June/July 08
- Commence project design and engineering
- Road, airstrip and accommodation construction

July/August 08
- Construction of pilot ponds and brine trench

October 08
- Harvest and process pilot pond salts
- Commence stockpiling

November/December 08
- Finalise pond design and layout

December/January 08
- Complete bankable feasibility study


The second last slide also goes on to show the company's 12 month outlook:

- Lake Disappointment - clearance of heritage surveys and mining agreements
- Grant of mine development and environmental permits
- Complete the construction of the access road, airstrip, campsite and pilot pond facilities
- Establishment of brine supply ditches and causeways
- Construction of evaporation pond system
- Progress salt deposition over crystalliser ponds - pond base preparation
- Commence potash inventory build up
- Complete engineering design - capital and operating cost establishment
- Complete feasibility studies

The wheels are in motion.

Good luck