Ann: Acquisition of Mid-West Iron Ore and Port Assets, page-11

Thanks, sorry I'd forgotten they only paid once a year.

The acquisition (assuming the $5 C1 cash cost saving) is roughly DPS flat then. At 60-80% payout rate and allowing for 30% tax, would generate cash savings of $2.7m-$3.6m. Increase in dividend paid (maintaining the 5.25 dividend) would be $3.15m (based on the extra SOI of 60m from the acquisition).

The benefit of the acquisition will be in Shine, at the moment I'm not sure what value exists there.

Will have to see if an expected C1 cash cost is provided for Shine to get it back into production.

I'm not sure what the purpose of the Extension Hill acquisition is. Maybe Mount Gibson would only sell the others with that included, but bearing in mind there is no chance of the mine being reopened from what I understand, FEX just seem to have acquired the rehab obligations for Extension Hill