extra exceptional drill results at kola, page-26

A pleasure Martin.

Here's an excerpt from my 31st May 2012 post after I returned home from the AGM:

ELM directors had a meeting about a month ago with the top brass in the ROC government for mining, including the minister for mines. VERY cooperative, they are keen to put the setbacks of Mag Industries behind them and they see ELM's project as a massive asset for the country and will do whatever it takes to fast track it. They said that they will have all the mining permits ready upon release of the BFS. Mining permits can be a source of delay and frustration for many developers. Also, they want full production bought forward by 1 year. very keen. They also see Tchibouti as a hub for a much bigger potash operation for the entire congolese basin in the future which ELM will be able to take advantage of.

Iain Macpherson also mentioned at that AGM that during the above meeting with the ROC government officials, he said words to the effect that ELM is competing with Ethiopia for CAPEX funding so we must beat them to it. When the officials heard this, they basically said we will do whatever it takes to fast track the project and guaranteed the mining permits on time. There's a bit of rivalry there it's fair to say which is good for ELM.

He mentioned the Congo basin again in today's announcement.