EARNINGS AND DIVIDEND PROJECTIONS, page-20

Hi Barrier,

Yep, it's my understanding that Tombador will receive the 62% Fe price net of Trafigura's fee. i.e. Tombador gives up the premium that they would have achieved selling the higher grade ore themselves. It's a great deal as it eliminates the need for Tombador to run the marketing themselves which can be costly and complicated.

Pihrana