Ann: IronClad to raise $11 million Fully Underwri, page-12

re: Ann: IronClad to raise $11 million Fully ... Hi, Guys,

IFE, a miner close to becoming a producer, SHARES 75,664,843, MC$57M @$0.755 and market capital only $57M;

IronClad completed a feasibility study for stage one of the Wilcherry Hill Project late last year.
This indicated that, with an average iron ore price of A$140 per tonne net of freight charges into China and initial operating costs of around A$85 per tonne, the project would provide
IronClad with margins of approximately A$55 per tonne and an operating cash flow of around A$110 million a year at full production during stage one.

Key point:
1. With the successful DSO export programme in operation IronClad?s Wilcherry Hill Project will be only the second iron ore mine in the world to supply direct shipping grade magnetite iron ore for export.
2. An exceptionally low capital start up, Stage One (DSO) Capital only AUD $12 ? $19 Million, one of the lowest capital cost in Australian iron ore mines. Sufficient infrastructure exists;
3. Near term production, Site work is currently underway, Production from Wilcherry Hill is scheduled to commence in 2011.
4. JORC RESOURCE WILCHERRY HILL 69MT, target (600 ? 700 Mt) & HERCULES resource 215MT, target (1 -1.5BT);

Recently INTERSUISSE valuation IFE current NPV price $2.14
http://www.intersuisse.com.au/Files/resources/ironclad%20-%20intersuisse%20-%206december2010%20short.pdf

Hold your share tightly and you will not regret in near future.