Ann: Mt Woods Scoping Study Demonstrates Developm, page-8

re: Ann: Mt Woods Scoping Study Demonstrates ... the assumptions are relatively conservative compared to some other scoping studies I have seen. IXR wont develop it but it certainly adds value. Works in perfectly with Cairn Hill only having a few years left. Plenty of optionality too with possible port developments reducing operating costs and increasing production

as for cost and IRR, $120 per tonne of capacity capex ($300m for 2.5mtpa) is pretty competitive, particularly for magnetite which produces a premium product

even if it adds $10m of value to IXR, its certainly a lot of value coming off such a low base with a MC under $30m