quarterly, page-20

Ferguson,

Thanks for the breakdown and the prospective figures about APG.

One thing that I can't properly work out though, is about the costs that we must/should incurr as an ongoing operation. I haven't seen any of those costs, nor the break up of them in any presentation that I cam remember either. Nor can I identify as to whether or not you have allowed for fixed costs. The variable may have been allowed, one would presume as much, but I am unsure about the fixed ones.

I have also asked for a price that we may/will receive from the sale of iron briquettes per ton once we reach production, and no one replied. I have tried to google it, and it gave me so many different prices varying from extremely low and ridiculously low, to high and ridiculously high as well.

Thanks anyway