white pointer, page-4

Hi white pointer.

Not trying to dampen your enthusiasm for the projects with my comments.

Remember it was to start off delivering lower grade of I believe around 58%Fe.Higher grade was to follow.
Now it is 33%Fe which is up-gradeable to 61%Fe.

Depending on the recoverable percentage of the mined iron ore.
One hundred million tonnes of 33%Fe iron ore,at 40% recovery is going to be 40 million tonnes at 61%Fe.Recovery could be less.
Take 20 million tonnes and you have 8 million tonnes of final product at 61%Fe.

Regards
Westcott.