starting to look good, page-48

tas ifc/no hints from gip?????? PROJECT FINANCE(Apr-Jun 2003 qtrly)

The company has been approached by a number of project finance companies and international development banks,ALL OF WHICH HAVE EXPRESSED INTEREST IN PROVIDING PROJECT FINANCE.The company is presently undertaking preliminary discussions with the banks which include the International Finance Corporation(IFC),the commercial arm of the World Bank.

You did say it can take quite a while for them to approve such loans Tas.Looks like it was one of the first ports of call!

Chinese dont have the patent on one of the real possible growth areas for tantalum,that is the sputtering technology for Cu IC semiconductors particularly come 2006/7 when memory manufacturers convert to the same technology.

I'm certainly not discounting demand from China Tas,after all the automotive area is one sector that is booming in China atm and as Cabots say tantalum use is growing in this area mainly due to the larger tantalum capacitors used in motor vehicle electronics.The main issue as far as Gip is concerned in providing for other potential customers would be production capacity,which they will only have for the current large off-take customer,plus another 100K for the other sian off-take customer,Chinese perhaps?

Yes the whole issue does require some interpretation Tas and its HOW you interpret it and what end result you can come up with.If you dont believe in any of the possible scenarios that come from differing interpretations and you are relying on pure,in the face fact,then of course you are not going to see any value in Gip.

d.