Ann: C4 Iron Ore Mine September Update, page-18

Hi edglim,

I am aware MIO was interested in mine gate sales to sell but they are not currently producing.

The modified agreement with FEL allowed GWR an option to buy ore from them I thought.

The Ann states “the mined high grade ore to blend with their product” so I took that as current mined and stockpiled ore at Wiluna sold to a current producer for blending now.... maybe I am reading this too literally but I do think their referring to another party.

I think FEL would have the same cost pressures as GWR transporting it, that’s why Mineral Resources came to mind as they have an alternate cheaper solution to transport and shipping.

Either way the clearing of stockpiled ore would be a bonus.

Wassa.