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Dear Dapper,

Reading the latest Broker Report by Intersuisse:

http://www.minemakers.com.au/downloads/110113Minemakers-Intersuisse.pdf

We are given some indication of the timing of the VERTE MOU unfolding spoken by Andrew himself:

1) Update on the first quarter of 2011, by March 2011.
2) An investment decision on Wonorah by end of second quarter 2011.

I believe announcements is on its way. For those already holding so long, in my opinion, now is seriously not the time to sell out. Phosphate prices are recovering strongly and is likely to remain high, at $140/t plus Wonorah's 3mt operation will be a cash cow. I am taking the secret signals by India's aggressive purchases of Phosphate assets, the prolonged deficits in Phosphate supply across Asia (need to secure supply) and the increasing need to increase farm productivity.

Besides this, volumes speak. Inside money has already made their move in the past weeks. This is a buy!

All the best for all longsuffering holders!

LM