Spur Ventures Inc SPVEF

RE: They did it !!!

[ArtBechstein]

Nilyab, you hit the nail on its head. That's the important difference between Spur and Ko-Yo. Ko-yo is through its 100% subsidiary applying for te license itself and Spur is in tranfer-process for an existing mining license. If my memory serves me right, it took about 3 years for the JV-partner to get the mining license approval in Feb/Oct 2004 - this is te timeframe that Ko-Yo expects for their license and to my understanding there shouldn't be a problem to get the approval by the ministry of Mines. The Spr case is by far more complicated because this is new territory and MofCom got involved and all the different adminstration levels. In fact it will be a political decision in case of Spur but Ko-Yo is a Chinese company and shouldn't face any problems. My intention was not to highlight the license-issues but the parallel business-model of both companies that shows me how difficult it is (and will be) to secure phosphates. Last week phosphoric acid was traded at 1,300 US$/t - up 700 US$/t from 4 weeks before. So probably a good decision of Spur mgt to take more profit from their phosacid plant and produce MAP.... Art