this morning, page-8

re: financial info on iron ore when it comes to the spec market.you must look at time frame to marketto generate income.while ady in some peoples eyes has been very fraustrating over its lack of movement.i would suggest that is about to change on iron ore production alone and updated jorc on resource
and we have not even got to the jewel in the crown
the WORLD CLASS RESOURCE RINCON SALAR
Revenue expected to grow to US$103m per annum for lithium in 2008/9




it is believed that cometals will purchase total mine out put from santa barbara.tonage will increase to 125k tons very shortly.ady has stated that they will have $24
million income over the next twelve months.


While terms of the sale are confidential, the price was at current market levels consistent with the recent
price increases received by the major international producers and it was sold on an FOB basis ex the
mine.

Under the agreement, Cometals will purchase a minimum of 1.5 million and a maximum of 3 million
tonnes of iron ore per annum, over a minimum five-year period.

In a separate development, Santa Barbara has had keen interest from road constructors seeking supply
of iron ore waste gravels. These road constructors were successful in bidding for the construction of a
highway between Vallenar, where the mine is located and Copiapo which is close to the port of Caldera.
We expect to be able to generate additional revenues from the sale of waste gravels on closing a
contract for supply

what revenue this will bring in im not sure but what it will do is decrease costs by $0.94 us a ton and provide a dual lane highway at no cost at ady's door step.