Ann: Future Facing Commodities Conference Presentation, page-43

That’s correct. As you can see in the announcements they have run preliminary numbers at 62% Fe. This sits them at $46-55 per ton without the substantial money paid for 68% Fe.

Yes it’s not a cheap exercise. At the moment, you have a government that is keen to create industry. This means that infrastructure will be supported by the government financially. The electricity deal will be very good, at there is already preliminary pricing and costings, with a great deal struck for a cost basis.

The strip ration is a tick over 16%. (16.02). Step over to muster Dam and it sits higher.

MGT will look to get iron peak going, then will look at a heavily weighed JV for its other tenements, in turn, using MGT’s rail, water and electrical infrastructure. If they can get to mining, they should become a leader in the field.