Ann: Minim Martap High Grade Resource, page-8

That is not currently tied up by the Chinese? NO

There is other bauxite that is also this good, much of Guinea is good, almost identical (and I always thought Cameroon would turn out to be the same as Guinea as identical latitude and not far away) but there is none that is actually available to the market. So if bauxite is needed CAY win big time. If bauxite goes into over supply (which I doubt) CAY will still be wanted because of grade and most importantly LOW reactive silica. Reactive silica reduces $s per tonne that bauxite can be sold for. Even a few percent difference is very significant. Weipa averages 6-12% Chinese often as high as 20% but it is getting pulled from supply for this very reason. 2% or thereabouts reactive silica is extraordinary and will create a product that will be in very high demand.

A Reactive silica content of each 1% reduces the $s received per tonne by approx $3 on my calcs. So comparing 2% to 6% (Weipa) there would be $12 per tonne difference. When talking about tonnage rates of US$65 give or take, this is a serious difference.

Looking forward to the drill results and even more bauxite ...I still think we will see the resource up to a billion tonnes before the year is out.

In the meantime we have 25 years at 10 million tonnes high grade as a starter operation