re: christmas in july!!! - quarterly report in Overall a very positive report
(1) disappointing that first exports have been delayed till January
(2) exchange rate effects will be nullified by undertaking mining operations itself rather than using outside contractors
(3) reaffirmation that forward after tax earnings $9m remain intact for FY2004 (ie margin around $8.00 per tonne remains intact) although no mention of future Mt Gibson contribution
(4) high grade magnetite discovery - further work planned with possibility of establishing 1mt per annum of concentrate export
quarterly activities report due, page-11
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