Ann: Appointment of GHD to Razorback Definitive Feasibility Study, page-3

Good move and at arms length ,

GHD’s Project Director Mr. Michael Tasker said that “GHD were very excited to be appointed in a key continuing role with Magnetite Mines and assist in the development of Razorback which is a very significant project for the development of South Australia’s magnetite industry”. GHD’s scope of work will include further investigation of: • Off Site Infrastructure: • Power Supply • Haul road and rail siding Mine Site Non Process Infrastructure comprising: • Administration buildings, mine accommodation camp, workshop, hardstands, maintenance facilities; • Site services including provision of water, sewer, communications, power etc.; and • Internal road network, car park and haul roads GHD is also contributing to the following study wide elements: • Project execution strategy • Risk Management • Capital Cost