magnetite contribution, page-2

"Export of the magnetite concentrate will extend the life of Ernest Henry to 2024. Ernest Henry "

LOL ! sloppy reporting again - that article implies its the magnetite that has extended E.H life.

Its the E.H underground and the purchase of the CCP project from Exco ( plus other juniors on the future aquasition radar ) that have extended the E.H mine to 2024.

The Xmen have been stockpiling the magnetite for years and it hasn't been viable to ship it as frieght cost were almost as high as what it could be sold for. Its only now with the China and India boom that it has become a worthwhile export product.

Magnetite is cream for Xstrata and its also cream for CDU - I am personal more excited in the Wilgar gold. $30000 dollars worth of gold from a 6 x 4 box trailer full of ore only 10 mtrs below the surface ! you dont need a lot of tons of that grade to make a shipload of $$$$$$

Cheers Hoot