Ann: Appointment of Chief Financial Officer, page-3

Not really Palm Frond,

The way I see it, Zaiqian Zhang's primary role was for his language skills in marketing Genmin's product in China.

Anglo American might be taking 100% of Genmin's output.

They produce a 63% Fe product from Kumba in South Africa & Genmin's average product will be at least this if not a higher grade.

Anglo have their own people who can market it to China.

Current IO price still above the FS assumption of average US$97/t for 62% Fe benchmark and has stabilised with the Dalian futures lifting again during the night session.

http://www.dce.com.cn/DCE/Products/Industrial/Iron%20Ore/

A $72 million MC is too low for an IO company on a pathway to production next year. I'm back in with some at 16 cents this morning!