Ann: Letter to Shareholders re EGM, page-24

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    OUCH!!!

    '""no more progress on the investor side of things. As outlined previously, steel makers wish to lock in supply ahead of a possible short fall later on in regard to high quality iron ore. but no guarantees that anything will come of that. Wait and see over the next few months. There is a plan B, what that is hasn't been explained"""
 
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