Ann: Wilcherry Hill Project Feasibility Update , page-13

re: Ann: Wilcherry Hill Project Feasibility U... "No- expenses in full are 55-75, sales at worst 115. Profit = at worst 40 mil in Year 1. I guessimate 60 mil av in Year 1. Over 120M yr 2.... Over 120 mil Yr 3 then 4-6 MT next of mixed Iron.... Then it a $200 pa profit company. Then being a billion dollar company MC wise between the 2 companies of TRF\IFE- not individually unless one takes the other over..."

Jay, if the buyer is paying the freight costs why was there a need to mention these costs in the announcement?

I hope that the company can quickly clarify this point.

Stagman