Ann: Commencement of DSO study, page-2

Interesting.

Any DSO operation would pre-empt the larger (wet) magnetite concentrate operation at Buena Vista and thereafter be integrated with this potential larger and long life high grade concentrate operation.


And this ...music to anyone's ears!


If such an operation is demonstrated to be both feasible and value adding, it is expected that a simple crushing and screening circuit could be utilised to upgrade the material to 58-62% Fe which will be a premium or near premium magnetite fines product.

This simple processing circuit would require minimal capex relative to a high grade concentrate circuit and significantly cut the timeline to first production from the project.

Importantly the production of a DSO product would also provide the project with an opportunity to take advantage of the latest bank forecasts for ongoing bullish iron ore prices.