Ann: Annual Report to shareholders, page-4

Yes Corza, looks good on the surface. I will read in further detail when I muster the energy.

I particularly like this from Wayne:

"Whilst there is significant propaganda and press on the current iron ore market and the long-term pricing forecast, the fundamentals of the Mofe Creek Project position it for development success, even in the current pricing regime. As a potential low-cost, high-grade iron ore producer with forecast bottom quartile operating costs (US$32-41/t FOB), a high-grade product marketed within the Platt’s 65% Fe index, and a very low capital
intensity for start-up production, the Project merits development success and support from shareholders and stakeholders alike."

Very much what we have been discussing of late on this forum - low cost, high grade, low capital intensity. Bazing!!

Mafew