good news for iron ore prices, page-12

Dependant upon metallurgical testing, Cockatoo appears to contain significant quantities of low grade ore that may be processed through the Irvine pre-concentrator plant, as well as low grade ore that could be direct shipped to Timeone’s beneficiation plant in Rizhao, China without the need to preconcentrate.

There may also be potential to continue mining of high grade direct shipping ore from an underground operation and a smaller stage 5 extension. Both these areas are considered as exploration targets and will require additional investigation”

http://www.asx.com.au/asxpdf/20111223/pdf/423gz6cw4p02sl.pdf