1000% upside, page-28

Yeah good call, Kloppers said the iron ore market is priced on supply rather than demand, helps ease the concern of China cooling inflation, but the other side of that coin is we can be certain that supply is going to increase markedly over the next 4 years, therefore you have to be right in assuming the price will fall. But...India will hopefully absorb some of this new supply, as well as other emerging markets. Someone else noted that rebuilding in Japan should help sustain higher than usual demand. Let's just hope that we are producing soon enough to lock in a decent margin. How much will we sell to OMH, or whatever the broker is called?? Would you sell months worth, or a shipment's worth, how does it work? Sorry for the long link below, but it's the announcement of the signing of the OHH contract from 14/09/10. I wonder if the price was agreed in that contract, or if it's going to float at some discount to the spot? I'm just trying to get some sort of feel for the timing of the pricing of our ore.

Let's just ignore the 1Q 2011 guidance in the announcement for the first mining of the DSO - no wonder you boys were scoffing back then, that was absolute horse manure, when did they expect to lodge the mining permit and when did they expect to have it approved???!!!?? That was 14/09/10. Oh well...as long as the price stays strong for another year (and why wouldn't it???), we should be ok eh? Maybe it was just a typo, I'm thinking Ian actually meant 1Q 2012, I'm sure that was it, just an innocent typo that everyone missed...

http://www.aspectfinancial.com.au/docserver/01097650.pdf?fileid=01097650&datedir=20100914&edt=MjAxMS0wNC0wMisxNToyNzo1NCsxMjArNjEwNDA1MDErZXRyYWRleG1sK3JlZGlyZWN0Ky9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL0V0cmFkZVBERlRpbWVvdXQuaHRtbCsvaW1hZ2VzaWduYWwvZXJyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true