hypothetical question, page-23

Hi (reddragon)

You say BHP are not interested in greenfield projects.
Any 2nd or 3rd tier destinations, there is complete disinterest in them, except for Potash you say.
What tier does Guinea, Equatorial Guinea and Gabon come under?
Guinea. BHP Iron ore, Rio Tinto Iron Ore, Vale Iron Ore.
Some of the biggest companies in the world in the early stages of exploration of different minerals.
Equatorial Guinea. BHP Petroleum products. Other world class top companies involved.
Gabon. BHP suppose to be interested in Belinga Iron Ore.
Other world class top companies involved in early exploration for minerals.
The same for Cameroon and The Congo Republic for Majors being involved in Mineral and Petroleum products.

How do you class Rio Tinto, Posco, Tata, ArcelorMittal? Are they not tier 1 companies? All I believe have taken an interest in SDL over the last few years.

If SDL is a mile away from production, how far off is Rio Tinto in Guinea?
BHP looking to pull out of their big Iron Ore project in Guinea.

High Grade Iron Ore is not a scarce resource you say. High Grade Iron Ore in The Pilbara is being depleted at a rather fast rate. How many New High Grade deposits in The Pilbara have BHP and Rio Tinto found in the last few years?
How many High Grade Iron Ore projects have Vale found in the last few years?

How many High Grade Projects have been found by any other company excluding the Big three in The Pilbara in the last few years?

Me think's you need to look a bit further into High Grade Iron Ore projects to come on line in the next 4 or 5 years.

Regards
Westcott.