Hi Bungy,I was not referring to you when I said 'others on this...

Hi Bungy,

I was not referring to you when I said 'others on this threat' lol. I can't remember who specifically was predicting 150-200MT (there were at least 2 that I remember) but I am not going to bother going back and looking for who they were.

I know you have always said 100MT @ 60% Fe. Initial JORC is slightly below that but as I said before no one could possibly know what the JORC is until it is actually calculated.

I am very happy with the announcement and am now very confident to hold. Before today I had concerns the JORC might surprise on the downside. It has done so but not by much and IMO this project has just been very much de-risked. Can't see much that could stop UMC from becoming a producer now. I never said that 84.5MT was not enough.

Scoping study should be released within the next couple of months I would think after negotiations with BHP/RIO/FMG for rail access/MGS. That should give some hard numbers for the instos and research houses/brokers to work with.