Have had a few long chats with the CEO Mr Luscombe in the last...

Have had a few long chats with the CEO Mr Luscombe in the last few days and must say that he handled all my questions very well and I must say I was impressed. They do have their problems on the environmental side of things with two govt departments opposed to each other on the project (dept of minerals and resources).

A joint government task team has been appointed by the minerals and energy department and the department for environmental affairs and tourism to iron out the issues and MRC are very confident that the financial benefits of Xolobeni and the support of the locals will win out. If this hurdle can be overcome it appears a foregone conclusion that we will have a very economical mine on our hands that will payback in 5yrs with a life of 20yrs.

Also a good chance of some cashflow from within our own country within the next few weeks.

Cheers,

Ed.