phosphate jv with legend international, page-3

http://www.asx.com.au/asxpdf/20081112/pdf/31djvc64s52w1j.pdf


D‐Tree Phosphate Project
–JV aims to deliver early cashflow
• HOA with Legend International Holdings
– merger of D-Tree area tenements
– MET 20% / Legend 80% (manager)
• Consolidates ownership
– 490km2tenement area
– 30km strike length mineralised horizon
• Focus on near-term direct ship operation
• Significant value-add from JV partner
– development track record
– strong customer relationship (IFFCO)
– US$105m placement closed in June 08
– access to Lady Annie infrastructure
– technical and logistical expertise 20km