emg notes, page-17

SW
Agree JT has given a great overview. It appears to me the company has no doubt it has far in excess of the billion Mt of Magnetite which they hope to have peoved up in Q1. Reading between the lines from the meeting the near surface Hematite is there but scattered and not necessarily in the one place so the original drilling programe has to keep being changed to go where the Hematite is seen to be located which is taking a little longer then first thought. We were told it could be February before we see the test results.
I took what WF said about approaches that they maybe talking to a few different companies but some could be interested in a Mine Gate sale deal or a JV where they are also the offtake.