canegrass magnetite project, midwest w.a., page-17

Nice one - This is the announcement FMS need to be looking at. Also FMG do have a magnetite project closer to Pt Headland. I think it is called Glacier Valley. I expect a project update tomorrow for FMS. The P% levels in Ajax look low so far.

http://imagesignal.comsec.com.au/asxdata/20090623/pdf/00962664.pdf

Highlights
 Cooperation Agreement signed with Fortescue Metals Group Ltd (“Fortescue”);
 Potential for sharing of capital expenditure;
 Potential for reduced operating costs through efficiency and utilisation of facilities;
 Facilitation of Government approvals; and
 Opportunities for third party access to port facilities.
Aquila Resources Limited (ASX:AQA “Aquila” or “the Company”) is pleased to announce that API
Management Pty Ltd (“API”) which is the manager of Aquila’s 50% owned West Pilbara Iron Ore
Project, has signed a Cooperation Agreement with Fortescue to investigate the potential for shared
development of port facilities at Anketell Point.
The parties to the Cooperation Agreement will exchange information to enable each party to assess
the potential benefits of reduced capital and operating costs from the cooperative development of port
facilities that can be used not only by API and Fortescue, but other developers of iron ore resources in
the West and Central Pilbara, currently unable to develop their projects due to a lack of suitable port
infrastructure.
There will also be consideration of the benefits of sharing environmental study efforts to facilitate
government approvals through the presentation of more unified, collaborative and coherent plans for
port development and the provision of access by third parties.
A working group will be formed to consider these issues, further develop concept arrangements and
establish a framework for suitable development scenarios.
Anketell Point is the designated port site within the Definitive Feasibility Study (“DFS”) being
undertaken for the West Pilbara Iron Ore Project to develop an export iron ore operation based on a
current resource base of 650 million tonnes (as released to the ASX on 24 April 2009), with the
potential for significant growth in that base (see the current conceptual port layout for the DFS below).
The initial planned production capacity is to be 30 million tonnes per annum of Channel Iron ore, with
the opportunity to grow this rate through the addition of Bedded Iron products.
The opportunity remains for other developers in the region to participate in the consideration of the
joint development of the Anketell Point port facilities. This port site has the potential for a staged
development to accommodate the export of up to 350 million tonnes per annum of iron ore from the
Pilbara region.