Ann: Riley DSO Project Update, page-38

I think we are just going to have to grin and bear it for the next couple of months and ride this out. The appeal has got nothing to do with the current SP, no one believe TNC will win the appeal, it's now purely about investors avoiding IO minors which are about to get driven out of the market place.

Fortunately VMS is not yet in production (thanks scott). Riley will be a low cost short term mine with zero debt and has the luxury to be able to wait things out and pick the right moment to ramp up production quickly once prices return.  Others will not be so lucky.......

"Major producers, led by BHP Billiton, Rio Tinto and Brazil's Vale, are ignoring the falling iron ore price and the slowing Chinese economy and ramping up production in a bid to wipe out higher-cost, lower-quality producers in China and around the world."

We will ultimately be in a strong position.......hold tight and accumulate.

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