Recyclico Battery Materials Inc. (AMYZF)

[Joeiniowa]

Dan,

What I have learned over time in most industries and specifically the mining industry is that there are three key items you need to have a succesful investment:

1) Management. Bad management will screw you every time. I have not met Larry but everything I have read about him and his actions make me believe we are in good hands.

2) Cash. We have cash to get the project past the feasibility stage. Not having cash or having to raise it every few months is a terrible drain on resources. I am not against picking a partner with some deep pockets but it has to be on our terms and we can be selective given the current cash position. Plus the last financing was done with a bank at a higher level than we currently are at.

3) Property and reserves. If you don't have a good property odds are it will never produce. Unlike a lot of miners that take 8-10 years to get into production we are looking at another 2 or so. Reserves I have no doubt. I think we could all take shovels out there and hit material. My biggest question is can they really mine for .44/lb? Mining is not easy. There are a lot of pieces to any circuit. Typically low grades are not what you want when mining but this certainly seems to be the exception. At the end of the day the companies they have hired seem to be very reputable. I doubt they would let anything be published they did not feel comfortable with.

I will say that if you have questions drop the company a note. They seem very friendly and have always responded to me. Be proactive and get answers to your questions.

Joe