Recommendation, page-1035

The important thing was seening everything as per announcements, video interviews etc. It was as had been previously described. Seeing the as dug phosphate product straight out of the ground was a revealing moment as was the size of the new port under constuction by chinese, it is very substantial and really is an add on to the project, as is Foskor, assuming export to them happens. I was impressed with the enthusiasm and knowledge of the management team and realised that considerable care and effort had gone into recruiting them as their backgrounds were ideal for their tasks with Minbos. The experience was generally a comfort factor, although at the time, the IDC conditions precedent were the unknowns. My discussions with Lindsay Reed and Steve Abbott were very frank and they are well suited to their roles. I also learned and realised that Lindsay's long stint in Angola during covid was quite a contributing factor to the advancement of the project and has given him considerable and very valuable in Country knowledge in all circles, including government and intitutions. Given a fair wind, I have confidence that the Company will achieve it's goals, and hopefully will avoid any major Murphy factors !