J, my reading of it is that Stage 1 refers to our deal with Pilbara. Getting started, paying off the capex and getting the first million tonnes out. Everything after that is stage 2, no longer obligated to give 30%, no longer obligated to use Pilbara. In this announcement we talk of new contractors as well as renegotiating with Pilbara. 3000 tonnes a day now without the new haulage contractors contributing yet, with them 3 ships a month. Happy days, That’ my reading but I have been known to be wrong.
Ann: C4 Iron Ore Deposit - Stage 2 and Production Update, page-38
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