rock phosphate rises to $110 us fob morrocco, page-2

Boxes ticked
-Water Source

-DSO grades and sufficient amount.

-Mining Lease (shortly, EIS and mine site planning are well underway.

-Feasibility to be complete in Q1 2010.

-1st Stage of Bulk Sample to be ready for the post (in several 1 tonne bubble wrap post paks) at the end of November.

-further increased interest from buyers has arisen after the recent high grades announced by MAK

Drilling and sampling from the bulk sample will tighten up the grades expected and the material available.

Resource modelling to be complete at the end of 2009.

EIS to be ready Q2 2010.

Mining Agreement due in Q1 2010.

Mining Lease due at the end of the year.

------
Dredging costs in Namibia are estimated at US$26 per tonne.

Scoping study to be complete Q1 2010.

This could potentially be a large scale cheap operation depending on the quality of the material lifted out and the CAPEX required to beneficiate. IF they can produce in Namibia for less than $60 per tonne then this will be a huge project and a world leader. The CAPEX is the crucial part of the project IMHO.