Ann: Pilbara Iron Ore Project Update, page-4

Interesting anns but not shore what it refers to. Couldn’t find anything in the Option agreement.
What I did find is that Board says “ongoing royalty payment” Tod says cost of royalty $165mil. So, if anyone was planning on receiving royalty payments for any or all of the 700mt plus left out of the option agreement should check .
I take Todd’s figures that royalty cuts out at 288mt.
I don’t think the No. vote is such a punt.
We have spent millions defining the ore body.
We have 1,040Bnmt DSO.
Approval’s, rail option, port etc.
I noticed that twiggy goes to China personally to do business. Ginna launched a book with the Indian Prime minister ( any guesses who she will be selling I/O to?)
Todd employed a marketing Co. with experience in China to sell it’s ore.
Todd had all the time in the world to pick another Co. or mine before FMS.
It’s not unreasonable to ask Fair and just price.
What should that price be? I’ll leave it up to Todd to “nock my socks off with an offer”
He said in Sydney that he was out to make a big profit for Todd. Wind it back a little? If Todd with the “huge balance sheet” wants to get FMS using “petty cash” bump up the petty cash, that doesn’t take creative accounting.
I was very pleased yesterday that there was no sell off. Someone wanted to buy at 1.5c but couldn’t. So, market is expecting something better.
I’ll now depend on posters to explain what todays anns is about???
Cold and lonely in Adelaide????