questions

The investor presentation seemed like a lot of work has been done on the project and it is quite clear that transnet is the remaining hurdle.

There were a couple comments which seemed to raise more questions than answers, however, they really relate to profitability of the mine, so being in production far outweighs the concerns, just thought I might flag them.

1. Tariff could represent 47% of our overall FOB cost...Does this seem high to anyone else?

2. Based on indicative offers expect debt package to cover 50% of capex... I assume the other 50% would come from an equity raising, massive raising given market cap? (would probably require a new cornerstone investor...India?)

Cheers all.