estimate of tonnages and agm, page-21

Rather than doing some quick tonnage calculations on the best of the original 3 areas targeted, I decided to pick the one which has the least tonnage and Fe grades. i.e. Camp Hill West

Bear in mind that no new prospects were generated from Camp Hill West even though we ended up with an additional 3 new prospect areas defined as:
• North Milli Milli
• Jocelyn North
• Railway

So, for Camp Hill West, assuming a strike of 3,000m x 600m wide and a weighted average Fe depth of 7.13m I get 36.3Mt at a grading of 52% Fe.

3,000 x 600 x 7.13 x 2.83 = 36.3Mt

Must take into account that this Fe level is repeated in BHP's Area "C" many times over, thus one of the major reasons why BHP does extensive blending on Area 'C'.

Again, the Camp Hill project should be viewed in its totality and the fact they have come up with 36Mt in one small area suggests to me that UMC have one hell of a project with exceptionally high potential.

Note : The above calculations are based on my opinion only.