2012, page-7

I think this is correct.

The NIOJV was hoping to possibly get 3 cape vessels away in December but couldn't quite make it and two left from Anderson Point.

5 PowerTrans were fully operational during December. They were shifting 2,160t a day. I don't know if Triples are still shifting ore until the other 3 Powertrans are delivered. 14,100t needs to be shifted each day to hit 5Mtpa. If I can assume Triples are still operating, 14K per day may have been acheived during December.

The Reclaimer at the railhead came online on around the 20th of October, or 3 weeks in the quarter. I'm hoping the Reclaimer was able to shift most of the stockpile at the Christmas Creek railhead, and at present it's at Port Hedland.

When the quarter's figures are released. I'll be interested in the amount of ore that's stockpiled at Port Hedland in comparison to the amount in the last quarter's figures.

The NIOJV should start to hit three Cape vessels a month, and not two from now on. And then possibly three or four a month, depending on sprint capacity.

The third FMG birth at Anderson should've been commissioned. I haven't been able to find out if it has or hasn't. Maybe someone who knows someone at FMG maybe able to find out if it has or hasn't. But that could potentially be the NIOJV's only other problem in hitting full production. No spare capacity at Port ... maybe.

The crushing plant should soon be processing at a rate of 6Mtpa soon, if it's not already. Once the third birth at Anderson is commissioned, 6Mtpa shouldn't be problem at Port. Once the extra three PowerTrans come online shortly, 6Mtpa shouldn't be a problem to haul. Reclaimer will easily shift 6Mtpa onto rail.

BBY's Mike Hallowell said, "There's a VERY GOOD CHANCE that the BCI JV could do 7Mtpa for at least CY 13 as the FMG mines ramp up. This is a source of potential upside that is not currently factored into the numbers."

CY13 is now only 6 months away. I think Mike's claim will turn out to be correct. BCI will need to up the crushing plant's capacity ... no problem. 8 Powertrans and Triples could shift 19,500t per day, although they'll be pushing to do it. Down time with maintance will have an effect obviously. Probably need a few more Powertrans to do 7Mtpa. And port allocation should be fine, once the third birth is open. The private haul road is designed to meet 8Mtpa ... no problems there. The railhead reclaimer will shift 7Mtpa onto rail as well.

Also, this CY12, 3.5Mtpa is hoping to be exported. But that's the NIOJV. So this figure will need to be halved.

IF, the NIOJV can do 7Mtpa for CY13. BCI will have exported 3.5Mtpa alone. Or the equivalent of what is being exported by the NIOJV at the moment ...even more money. I like money. Big lots of it.