100% one way or the other is preferable for the proper...

100% one way or the other is preferable for the proper development of the Namibian resources.

starmanwin, the nature of this deposit is very different from land based. Exploration is quicker and testing is easier - it's simply uncompacted phosphate sediment lying on the sea floor, scoop and filter. In addition some of the necessary testing is being conducted by 3rd parties at their expense. Eg Jan De Nul, Belgian dredging contractor, is conducting economic and technical feasibility studies into the recovery of sediment and Coromandel, India's 2nd largest fertiliser company, is conducting the testing of chemical reactivity and suitability of the phosphate. Both parties have confidence in the project and both want priority for the production, Jan de Nul as the dredger, Coromandel for the output.

A BFS will come together relatively cheaply and quickly compared with underground exploration. I am confident in Frank Reid's expertise in these matters that his projections will be accurate.