Ann: Pilbara Iron Ore Project Update, page-35

why do you keep insisting you have 1B tonnes of ore to sell?

'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 .'

you have a resource of 1B tonnes, which can produce somewhere in excess of 250mt of product which you can mine and sell at a profit, its your reserve.. this notion that Todd will take 288mt and you have 700mt left over for yourselves is laughable.. they are taking the whole 1B tonnes of which only 288mt will be extracted to sell!

pg6 of June presentation;
Resource Size 1,040Mt @ 55.6% Fe
Potential Total Product ~288Mt