"Concerns over a softening in iron ore demand are somewhat...

"Concerns over a softening in iron ore demand are somewhat overdone. As this report is being prepared for shareholders, spot prices in China for iron ore of lesser quality of the projected CEIP concentrate are trading at levels near $US170 per tonne. The base case assumption
for the CEIP under the PFS assumes a long term pricing average of US$100.78 per tonne. Demand for iron products continues unabated and in our belief will do so for some time into the future. We are not alone in this belief, with all three of Australia’s largest exporters of iron ore continuing to expand at rapid pace. CEIP remains on track to deliver into this greatly expanded iron market in the years ahead."