Allana Potash fka AAA

[u2bob]

From: Bob XXXXXXXXXXXX
To: Farhad Abasov
Sent: Sun Feb 13 12:06:05 2011
Subject: Re: Your question


Morning Farhad ,

Hope all is well ? Looks like you have been busy of late... good interview on BNN wish you would have had more time for questions and answers ...any update on what holes we are drilling now...and how many more before NI 43 - 101 will be revised

Is Nova one of the properties we are looking at... I noticed their lease agreement was coming up also Samara is another one due this year ... would that change timelines on 43-101 for any new properties being added ?

One last thing your take on these guys comments http://salmanpartners.com/lib/files/Research/2011/February/transportationcomparison.pdf

As always thanks ! for the great effort you and your team are putting going forward...

Take care
Bob
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Hi Bob,

The time on BNN was really short. But it was good to be there anyway.

The drill results are on the way:)

We may drill another 4-5 holes before 43-101 or go into 43-101 right away. We will know in the next couple of weeks or so after consulting with our engineers/geos. We certainly have enough holes to do a 43-101 already.

We r looking at all the lands around. Obviously need to do further DD on what they might have in the ground.

Re: Salman, they did a desk top study. We had an outside consultant do the real work in Ethiopia. Our estimate is $30/t. But ultimately it really doesn't matter as ocean shipping is still cheaper in Ethiopia due to proximity to India and our operating costs are expected to be lower.

all the best,
Farhad