Ann: Drill Results Confirm Major HMS Discovery at Rosewood, page-33

Hello. Returning to the previous PTR 19/11/24 announcement (below), basic maths shows:

1. 65% titanium content of the ore
2. 23% iron content (Fe2 O3) of the ore
3. The titanium content is 21% rutile, 69% pseudo-rutile and 10%other.
4. Therefore, the rutile content is 21% of 65% = 14% of the ore
5. Therefore, the pseudo-rutile is 69% of 65% = 45% of the ore
6. The iron content is around 23% of the ore therefore the pseudo-rutile might be 45:23 titanium:iron ratio.
7. Thus as Peter Reid said at the AGM, a possible two parts titanium to one part iron product; which blows SFX out of the water.