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chmcnfunds

09/06/11 2:48 PM

#164843 RE: B402 #164839

You seem to have lost the thread. The comment to which you responded had nothing to do with the KATX financing. Rather, it was the use of convertible notes/debentures by Vale with whom we are seeking a JV and for whom you stated such financing does not happen. Vale uses such financing as do many companies, large or small. KATX also needs to finance their exploration.

KATX/BVIG/KATG