First Tidal Acquisition Corp T.AAA

RE: Interesting Analysis

[hakodate]

This report focusses mainly on transportation and is negative for Allana. However a couple of points may be made.

First although Amazon Mining will have very low transportation costs, as per their presentation, they plan to sell the product at about $175/t. So that low price more than offsets the transportation advantage. Also to use trucking costs in the Windsor/Toronto corridor to estimate Ethiopian trucking costs is ludricrous. I would think Allana has a better handle on trucking costs than someone who has to resort to Canada Dept. of Transport's estimated costs for Canada.