high-grade hematite reserves increase by 24% , page-32

Hi (andres)

Who told us we would have the Congo Mining Permit by the end of this year?

Yes there is risk in Africa. There is risk in Australia also. Sino in the Pilbara cost blow out's. Aquila with Rail and Port cost's,Brockman,Iron Ore Resources,FMS,Atlas all with NO Rail or Port at this time. All not likely to get any Rail deal from the Big Three in the Pilbara,no matter what the Federal or State Governments say.The Mid-West another problem area. Cost of running a company in Australia against labour cost's in Africa.
Cost to build a Rail line in Africa compaired to Rail line dollars per kl in Australia.Around $2.5 to $3 million per kl in Africa. Australia $5 to $5.5 million per kl.

Build a 500kl Rail line in Africa for the same cost of building a 300kl Rail line in Australia. Newman about 350kl from Port Headland I believe.
Lolabe around 500kl from Mbalam in Cameroon.

Regards
Westcott.
Get a lot more for your dollar in Africa than in Australia.