Becoming Colombia’s Leading Independent Coal Producer                      April 2012                     TSXV: PAK
DisclaimerForward Looking StatementThis presentation contains certain “forward-looking statements” and “forward-looking in...
Vision         Explore, expand and develop existing producing         assets to increase efficiencies, reserves and       ...
Strategy                                                                    • 100% ownership and RAW MATERIAL             ...
Capital Structure           Pacific Coal became a publicly listed company via RTO on March 14, 2011, making the Company t...
Pacific Coal Fully Funded Capex 2011-2012  Exploration = $10 m         Development = $15 m        Acquisitions = $125 m   ...
Executive ManagementStrong and Experienced TeamLuis Arturo Carvajales (Chief Executive Officer)   More than 20 years of e...
Asset Summary Diverse Portfolio of High Quality Coal Assets         Well-positioned portfolio with diversified current and...
Thermal Coal Production Profile                                       Robust production growth from existing assets with a...
Coke Production Profile                         High value coke operation with long mine life and coal to coke conversion ...
La Caypa Mine Significant Thermal Coal Production                        High quality steam coal production with attractiv...
La Caypa Mine South Pit Expansion to Extend Mine Life                                                      Potential incre...
La Caypa Mine Underground Production to Drive Growth                        Underground potential to drive resource expans...
Cerro Largo – La Divisa Acquisition of Significant Coal Production                             Contains high volatile bitu...
Regional InfrastructureProximity to Infrastructure Supporting Growth            Significant port and road infrastructure i...
CI Jam Coking Coal and Upgraded Coke Production                           Underground coking coal operation selling premiu...
Port of BarranquillaInvesting in Long-Term Port Access for Coke Pacific Coal acquired a port concession situated on the M...
La Tigra’s Asphaltite                                                               ProfileAsphaltites are species of bitu...
La Tigra’s Asphaltite Applications                    Proven Applications                                     Applications...
Pacific Coal Health, Safety and Community  Health and Safety Mission: Achieve Health and Safety goals through stewardship,...
Pacific CoalAchievement Scorecard                                                                         Achieved   In Pr...
Pacific CoalSummary       Strategically located, high-quality projects in a world-class jurisdiction with significant grow...
APPENDIX           23
Colombia A World-Class Coal District                                Catatumbo                     LA GUAJIRA DEPARTMENT   ...
Colombia A World-Class Coal District            Colombia is a significant coal mining region with 2012 production forecast...
Valuation Metrics Opportunity For Re-evaluation                           As at March 20, 2012Source: Management estimates...
Becoming Colombia’s Leading Independent Coal Producer                      April 2012                     TSXV: PAK       ...
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Pacific coal april website

  1. 1. Becoming Colombia’s Leading Independent Coal Producer April 2012 TSXV: PAK
  2. 2. DisclaimerForward Looking StatementThis presentation contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws concerning the business, operationsand financial performance and condition of Pacific Coal, S.A. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect tobusiness plans and strategies of Pacific Coal; information with respect to the proposed subscription receipt financing of Pacific Coal; estimated production of the various projects ofPacific Coal; the benefits of the acquisitions and the development potential of properties of Pacific Coal; the future price of coal; estimates regarding mineralization and explorationresults; the ability of Pacific Coal to achieve mining success consistent with management’s expectations; and expected levels of royalty rates, operating costs, and other costs andexpenses. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to knownand unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-lookingstatements will not occur. There can be no assurance that the plans, intentions or expectations upon which forward-looking statements are based will in fact be realized. Actualresults will differ, and the difference may be material and adverse to the Corporation and its shareholders.All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as“anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intend”, “may”, “plan”, “predict”, “project”, “should”, “target”, “will”, or similar words suggestingfuture outcomes or language suggesting an outlook. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, aswell as a number of assumptions made by, and information currently available to, the Corporation concerning, among other things, Pacific Coal’s ability to successfully complete theproposed subscription receipt financing; anticipated geological, operational and financial performance, business prospects, strategies, regulatory developments, future commodityprices, future production levels of the Corporation’s assets, the ability to obtain financing on acceptable terms, the timely receipt of any required approvals and that there will be nosignificant events occurring outside of Pacific Coal’s normal course of business. Although management considers these assumptions to be reasonable based on information currentlyavailable to it, they may prove to be incorrect. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changesin market conditions, risks relating to international operations, fluctuating coal prices and currency exchange rates, changes in project parameters, the possibility of project costoverruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of equipment or processes to operate as anticipated, and acquisitionsnot being integrated successfully or such integration proving more difficult, time consuming or costly than expected. Although Pacific Coal has attempted to identify importantfactors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions,events or results not to be anticipated, estimated or intended. Pacific Coal undertakes no obligation to update forward-looking statements if circumstances or management’sestimates or opinions should change except as required by applicable securities laws.This presentation uses the terms “measured”, “indicated”, and/or “inferred” mineral resources. United States investors are advised that while such terms are recognized by Canadianregulations, the United States Securities and Exchange Commission does not recognize them. Unites States investors are cautioned not to assume that all or any part of mineralresources will ever be converted into mineral reserves. Inferred mineral resources have a great amount of uncertainty as to their existence, and as to their economic and legalfeasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineralresources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of an inferred mineral resourceexists, or is economically or legally mineable. 2
  3. 3. Vision Explore, expand and develop existing producing assets to increase efficiencies, reserves and production, while securing infrastructure capacity (La Caypa, Cerro Largo, CI Jam/Port of Barranquilla) LEADING INDEPENDENT Seek opportunities to secure access to markets and ensure commercial flexibility COLOMBIAN COAL Foster a corporate environment of responsible PRODUCER citizenship 3
  4. 4. Strategy • 100% ownership and RAW MATERIAL control of La Caypa, PRODUCTION Cerro Largo and La Tigra • Company owns 92% of (UPSTREAM) CI Jam CAW/CCW plant • 50% equity interest • Carried interest for 50/50 JV • Upgraded coke production MANUFACTURING/ • Colloidal asphaltite in water (“CAW”)* PROCESSING • Colloidal coal in water (“CCW”)* Pyrolysis plant (MIDSTREAM) • 100% equity interest • Pyrolysis • Marketing of colloidal products to: • Power generation plants RETAIL/MARKETING • Heavy oil producing companies and refineries (DOWNSTREAM) • Marketing of thermal coal • Marketing of coke Vertical integration to secure market access in value-added product streams 4
  5. 5. Capital Structure  Pacific Coal became a publicly listed company via RTO on March 14, 2011, making the Company the only independent, public coal producer in Colombia  Fully leveraged to rising interest in Colombian coal  Strong sponsorship and institutional investor support  As at January 31, 2012, 11.2 million shares have been purchased for cancellation under the normal course issuer bid Pacific Coal (TSXV: PAK) Shares outstanding: 322 million Options (vested & exercisable) 35.8 million Warrants outstanding with weighted avg. exercise price of $2.10(1) 75.1 million Fully diluted: 437.2 million Market cap (basic): $114.3 million (2) Cash (September 30, 2011) $14.3 million Long-term debt (3) (September 30, 2011) $32.0 million Enterprise value $141.7 million(1) Expiry date March 14, 2016(2) Based on closing price of $0.355 on 3/20/2012(3) Includes finance leases 5
  6. 6. Pacific Coal Fully Funded Capex 2011-2012 Exploration = $10 m Development = $15 m Acquisitions = $125 m Infrastructure = $17 m Equipment = $15 m Pending* = $9 m Pending* = $2.5 m Pending* = $15 m Pending* = $13 m Pending* = $5 m • Drilling at Cerro Largo • South pit expansion at • Paying Cerro Largo • Completion of Coking • Double body trailers to update NI43-101 La Caypa (Royalties) contract to Masering Infrastructure (Trucks were acquired • Drilling, mapping and • Paying Barranquilla • Barranquilla Port setup via leasing) geophysics at La Tigra Port outstanding debt • Exploration drills • Drilling in Catatumbo • Closing 86% Cerro • Equipment for South • Drilling La Caypa for Largo Pit operations underground mine • Blue ACF investment • Other equipment design* As at September 2011 6
  7. 7. Executive ManagementStrong and Experienced TeamLuis Arturo Carvajales (Chief Executive Officer) More than 20 years of experience in the mining industry, holding management positions in marketing, sales, logistics, and serving as legal counsel Most recently President / Legal Representative of Carbones Colombianos del Cerrejon S.A.Miguel Velasquez (Chief Financial Officer) Over 25 years experience as Finance & Administrative Manager at companies in Colombia and at Colombian branches of Canadian companiesPeter Volk (General Counsel and Secretary) Mr.Volk has acted as General Counsel and Secretary of PetroMagdalena Energy Corp., Pacific Rubiales Energy Corp., Gran Colombia Gold Corp., and Bolivar Gold Corp.Jose Ignacio Noguera (Vice President, Public Relations & Corporate Social Responsibility) A lawyer with over 20 years experience in the resource industry, holding positions as legal counsel, public affairs, government relations, and community relations. During the last 8 years, he was the Public and Government Affairs Manager of ExxonMobilInvestor Relations Advice and Support Provided by The Capital Lab Inc. Belinda Labatte, Principal Greg DiTomaso, Director Investor Relations and Special Projects 7
  8. 8. Asset Summary Diverse Portfolio of High Quality Coal Assets Well-positioned portfolio with diversified current and future production of steam coal, coke and asphaltite Puerto Brisa Port of Santa Marta 1 1 Port Barranquilla 5 1 2 2 4 Medellin 3 Bogota 3 Cali 4 5Source: Management estimates*Annualized rate1 La Caypa produced 1,239,583 tonnes 2011 82 Cerro Largo produced 298,041 tonnes in 2011; Q1 production of 110,875 tonnes was prior to Pacific Coal acquisition of Cerro Largo
  9. 9. Thermal Coal Production Profile Robust production growth from existing assets with additional greenfield and consolidation opportunities Total Production Annual Production (millions of tonnes) Cerro Largo 3.4-3.6 La Caypa 2.7-2.9 2.6-2.9 1.5 1.2 2010A 2011A 2012E 2013E 2014ESource: Management estimates*Includes total production from Cerro Largo Q1/2011, before the acquisition closed 9
  10. 10. Coke Production Profile High value coke operation with long mine life and coal to coke conversion of ~70%  Operational adjustments during the first year of 90,000-1 90,000-1 operations resulted in 20,000 20,000 reduced production Annual Production in tonnes CI Jam guidance for 2011 (7,000 t of coke)  These adjustments also 60,000-72,00 allowed for infrastructure 0 and capacity to be built up, resulting in longer- term production targets being achieved sooner 7,000 2010A 2011A 2012E 2013E 2014ESource: Management estimates 10
  11. 11. La Caypa Mine Significant Thermal Coal Production High quality steam coal production with attractive expansion and underground potential Location: • Guajira Department, Colombia • Adjacent to Carbones del Cerrejón mine, largest coal mine in South America Resource estimate: • 47.0 Mt of measured resource (1) • 17.8 Mt of indicated resource (1) Area: •300 hectares Average BTU: • 12,264 (1) Average Sulphur: • 0.69% (1) Operations: • One open-pit mine currently operating ₋ South pit expansion in development with expected start-up in 2012 and potential production of additional 1.0 Mtpa • One underground mine in exploration, expected development in 2013 (1) 2011 Production • 1,239,583 t Projected Costs (2): • US$85/t Avg Contract Price: • US$102/t in long-term contracts for 100% of production to 2013 Infrastructure: • Secured allocation at Santa Marta (250 km) • Expected additional capacity at Puerto Brisa, early-2012, reducing freight costs by 40%-50% Current strip ratio: • 6.59:1(1) Source: Report titled “NI 43-101 Compliant Technical Report, La Caypa Mine, Department of Guajira, Colombia” prepared by SRK Consulting and dated November 1, 2010(2) Includes transportation, port, and administrative costs 11
  12. 12. La Caypa Mine South Pit Expansion to Extend Mine Life Potential incremental production of 1.0 Mt per annum  Extension of existing open pit to south of highwall with same premium coal characteristics as the primary pit with a similar CV Btu/lb  Straightforward integration into existing mining operations  Expected production start-up in 2012 with all permits in hand  South pit measured and indicated resources of 7.7 Mt(1)  South pit development to be concurrent with existing mining operations SECTOR +400(1) Report titled “NI 43-101 Compliant Technical Report, La Caypa Mine, Department of Guajira, Colombia” prepared by SRK Consulting and dated November 1, 2010 12
  13. 13. La Caypa Mine Underground Production to Drive Growth Underground potential to drive resource expansion and continued growth in production(1)  Mine planning underway based on 16 coal seams showing consistent thicknesses suitable for underground mining (average thickness ranging from 2.3 meters to 6.8 meters)  Measured and indicated resource of 53.6 Mt (1)  Potential thermal coal production to increase 0.8 – 1.0 Mtpa expected to commence in 2013  Existing pit provides underground access point with three contemplated levels to depth of 240 meters from pit bottom  Studies underway to determine optimum mining method and design; potential to become the largest underground coal operation in Colombia EXISTING OPEN PIT ELEVATION: 0 Level 1 Cradle ELEVATION: -150 Level 1 ELEVATION: -300 Level 2(1) Source: Report titled “NI 43-101 Compliant Technical Report, La Caypa Mine, Department of Guajira, Colombia” prepared by SRK Consulting and dated November 1, 2010 and managementprojections 13
  14. 14. Cerro Largo – La Divisa Acquisition of Significant Coal Production Contains high volatile bituminous type B coal with high calorific values and low sulphur Location: • Cesar Department, Colombia in the La Jagua de Ibirico coalfield • Adjacent to licences owned by Drummond and Vale. Glencore is currently operating an open-pit mine on the adjacent La Jagua sector Resource estimate: • 11.6 Mt – 21.2 Mt inferred (1) Area: •488 hectares Average BTU: • 12,000 (1) Average Sulphur: • 0.78% (1) Operations: • One open-pit mine currently operating Projected Costs (2): • US$80/t, expected to lower US$2/year with improved efficiencies and strip ratio 2011 Production • 298,041* Infrastructure: • Secured allocation at Santa Marta (250 km) • Expected additional capacity at Puerto Brisa in early-2012, reducing freight costs by 30%-40% Current strip ratio: • 20.64:1 (during ramp up) • Long-term mine plan has been implemented(1) Source: Report titled “Independent Technical Report, Cerro Largo Mine” prepared by SRK Consulting and dated February 2011(2) Includes transportation, port, and administrative costs * Q1/2011 production of Cerro Largo was prior to Pacific Coal acquisition 14
  15. 15. Regional InfrastructureProximity to Infrastructure Supporting Growth Significant port and road infrastructure in place to support existing regional coal production Puerto Bolivar  Secured 1.8 Mtpa of stockpiling and shipping capacity at the Port of Santa Port of Santa Marta Puerto Brisa Marta until 2013 Barranquilla  Production trucked 250 km by paved Port La Caypa highway to Santa Marta at a cost of Barranquilla approximately US$20-$23 per tonne Cartagena from La Caypa and 280 km from Cerro Cartagena Port Largo at a cost of approximately Cerro Largo US$23-US$24  Expected capacity at Puerto Brisa Panama provides alternative port location closer Catatumbo to both La Caypa and Cerro Largo with potential to reduce freight costs by Venezuela 40%-50% and by 30%-40%, respectively Colombia La Tigra  Puerto Brisa construction expected to be completed by r ve Ri a r Q1/2013, providing additional 35 uc ve Ca Ri a Mt of specialized coal shipping len da CI Jam ag capacity M Legend River Transport Coal Mine Coal Project Road Ports 15
  16. 16. CI Jam Coking Coal and Upgraded Coke Production Underground coking coal operation selling premium coke into high price environment Location: • Samaca Municipality, in Department of Boyaca • 3,000 small HCC producers in the area Resource estimate: • 2.8 Mt in situ (1) Area: •52 hectares Average BTU: • 13,800 with coking properties (1) Average Sulphur: • 0.92% (1) Operations: • Underground coking coal • Upgrading coking coal to coke Projected Costs (2) : • US$210/t 2011 Production: • 7,000 tonnes of coke Avg Market Price: • US$280/t Infrastructure: • Well maintained roads to truck coke to domestic markets and to port terminals (800 km to Barranquilla) Status: • Completed refurbishment of 160 beehive coking ovens • Completed refurbishment of coker infrastructure • Currently building additional 100 ovens to bring capacity to 120,000 tpa(1) Source: Report titled “SRK Technical Report Written To Be Compliant With NI 43-101 On Contract 7241, Boyaca, Colombia” prepared by SRK Consulting and dated August 2010(2) Includes transportation, port, and administrative costs 16
  17. 17. Port of BarranquillaInvesting in Long-Term Port Access for Coke Pacific Coal acquired a port concession situated on the Magdelena River near the Port of Barranquilla (approximately 5km from the Caribbean Sea) to be used to export coke, specialized coals, and bulk commodity products. Excess capacity at the port can be monetized by selling to other exporters Pacific Coal plans to tender for engineering, construction and procurement by Q3/2012, expecting to have an early start on coal loading operations with a provisional set-up for Q3/2012 Main features of the final proposed scheme:  Two portable shiploaders  A pile supported concrete berth with 12 m water depth  Portable Stacker  Coal/Coke piles BARRANQUILLA CONCESSION  Reclaim conveyor alongside the open stockpiles  Office/Maintenance building  FEL receiving hopper (rail mounted)  Overall average loading capacity of approximately 10,000 tonnes per day BARRANQUILLA CONCESSION 17
  18. 18. La Tigra’s Asphaltite ProfileAsphaltites are species of bitumen, dark-colored, comparatively hardand non-volatile solids, composed principally of hydrocarbons. GilsoniteAs of today in the La Tigra area, there is evidence for the presence oftwo different types of asphaltite: Grahamite and Gilsonite.Management expects a significant resource at La Tigra to beconfirmed with a National Instrument 43-101 compliant report –physical evidence on outcrops, oil seeps and 3 mines already inproduction in the area lead to optimistic forecasts on the existence ofimportant asphaltite reserves. GrahamiteLocation of La Tigra: • 80 km from BarrancabermejaArea: •5,700 hectaresOperations: • Initial exploration drilling, mapping, trenching and geophysics commenced June 2011 with the objective of a NI 43-101 compliant report by Q3/2012 La Tigra outcrop • Production start planned for Q1/2013Infrastructure: • 70 km from Bucaramanga with paved roads between Bucaramanga and San Alberto • 80 km from Barrancabermeja, the centre for petroleum refining and a port on the Magdalena River 18
  19. 19. La Tigra’s Asphaltite Applications Proven Applications Applications in Evaluation PhaseAsphalt modifiers Colloidal Asphaltite in Water (“CAW”)•Oil drilling and mud additive •Crushed asphaltite, suspended in water forming a colloid, can•Metal casings be used as fuel by power generators•Paving/roofing asphalts •PAK and Blue ACF are in the process of developing a pilot•Paint resins plant test for CAW at Babcock & Wilcox facilities in Ohio, USA •Trials on track at Babcock & WilcoxPyrolysis •Significant marketing opportunities as CAW can be sold as a•Extensively used technology at the industrial level fuel oil substitute •Management foresees strong market demand for CAW in•Converts asphaltite to valuable liquid and gas products, and Central America and the Caribbeanpet coke•Pet coke is a by-product produced through pyrolysis Colloidal Coal in Water (“CCW”)•Prefeasibility study indicates excellent economics based on •Similar to CAW, but using coal instead of asphaltitelab tests conducted with Colombia grahamite and gilsonite •Blue ACF will conduct CCW trials at Babcock & Wilcox in May•High margin application, potential for substantial volumes 2012•Feasibility study in progress in order to select the specifictechnology and to conduct pilot plant tests (100% PAK) PAK has investment option in the development of the CAW and CCW plants (50%) 19
  20. 20. Pacific Coal Health, Safety and Community Health and Safety Mission: Achieve Health and Safety goals through stewardship, integrity, and empowermentThe Company seeks to continuously reduce the number of workplace and operational safety incidents, with the ultimategoal of achieving the lowest accident frequency rates in the industry• The Company strives for eco-friendly operations wherever possible, by forming strategic alliances with environmental corporations• The Company seeks to work with partners with high health and safety policies and standards• The Company encourages its employees to participate actively in safety initiatives and prevention programs• All of our employees take part in our community health programs as both volunteers and patients• The Company maintains weekly updates of its safety performance indicators Community Mission: Maximize shareholder value while fostering a corporate environment of responsible citizenship and respecting the interests of our stakeholders and members of the communities in which we operate• The Company aligns its initiatives with the needs and activities of local governments, to contribute to the nation’s progress• The Company works closely with non-profit organizations to maximize its community efforts• The Company ensures responsible operations by minimizing wherever possible its impact on the environment 20
  21. 21. Pacific CoalAchievement Scorecard Achieved In Progress Completion of amended NI 43-101 at La Caypa and Cerro Largo O Commencement of development of south pit expansion / O Commencement surface work for underground at La Caypa  Implementation of integrated mine plan at Cerro Largo O Transition from Port of Santa Marta to Puerto Brisa, reducing freight O costs by 30%-50% Completion of refurbishment of 160 beehive coking ovens at CI Jam  Building additional 100 beehive ovens at CI Jam O Commencement of exploration at La Tigra  Completion of NI 43-101 on La Tigra O Development of Port of Barranquilla O CAW tests and trials  CCW tests and trials O 21
  22. 22. Pacific CoalSummary Strategically located, high-quality projects in a world-class jurisdiction with significant growth potential High-grade material of which global supply is permanently depleting and thus carrying premiums High quality coal characteristics – high BTU, low moisture, low ash, low sulphur Access to international markets via ports – improving efficiencies and cost reductions Opportunities to develop projects to access growth markets such as coking coal and asphaltite Strong operating team with a proven track record for project advancement 22
  23. 23. APPENDIX 23
  24. 24. Colombia A World-Class Coal District Catatumbo LA GUAJIRA DEPARTMENT La Tigra Cerrejon (BHP/Xstrata/Anglo) CI Jam  Colombia is the world’s 10th largest producer (76 La Caypa million tonnes in 2009) and 4th largest exporter of coal  Coal represented 25% of total export earnings for Colombia in 2009  Colombia has one of the largest proven coal reserves in the world, with over 7 billion tonnes of recoverable CESAR DEPARTMENT reserves and 17 billion tonnes of potential reserves El Descanso (Drummond) Calenturitas El Hatillo (Glencore)  Colombia’s estimated 2011 coal production is 85 La Francia (Vale) million to 95 million tonnes (Goldman Sachs) Cerro Largo La Jagua (Glencore) Pribbenow (Drummond)Source: Ingeominas Colombian Institute of Geology and Mining; Energy Information Administration; Reuters; Intierra 24
  25. 25. Colombia A World-Class Coal District Colombia is a significant coal mining region with 2012 production forecast to exceed 87 million tonnes* Colombian Coal Production (Mt) DMTU Thermal Coal Price (FOB Puerto Bolivar) $250 Colombian Coal prices up over 60% since January 2010 $200 $150 $100 $50 $0 2012E* Jul-06 Jul-07 Jul-08 Jul-09 Jul-10 Jul-11 Jul-12 Jul-13 FOB Puerto Bolivar to Europe API#2 PriceSource: BP Statistical Review of World Energy and Bloomberg*Economist Intelligence Unit 25
  26. 26. Valuation Metrics Opportunity For Re-evaluation As at March 20, 2012Source: Management estimates, Fraser Mackenzie research, and Bloomberg* Peers: Corsa Coal Corp., Forbes & Manhattan Coal Corp., Lipari Energy, and Xinergy Ltd.** Production sales as of most recent quarter on an annualized basis 26
  27. 27. Becoming Colombia’s Leading Independent Coal Producer April 2012 TSXV: PAK 27

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