Ann: Expansion from 155MTPA expansion Project , page-17

"UNDER THE SOUTHERN CROSS

Thursday June 2, 2011
By the Southern Cross Equities team as edited by Charlie Aitken
In this edition:
? Under the Southern Cross...Data denial ends...FMG...Reiterate buy $12.00 -$18.00 three year price target"

Charlie Aitken has long been a supporter of Andrew Forrest & he has been proven correct in backing this visionary CEO. He has made himself rich & his shareholders richer. From being considered a joke by the wise investment community, FMG can no longer be denied. Their expansion plans are on track & their goal to be larger iron ore miners in Australia than both RIO & BHP are looking more & more real. The expression of 'delusions of grandeur' are no longer bandied about.

Twiggy is wise enough to see that a new skill set is required to advance this phase in FMG's evolvement & has stepped aside to make way for those skills. I personally am very relaxed in his choice of CEO & applaud his taking the role of Chairman.

I certainly don't discount Charlie's target prices as wild exaggerations, if anything I think they may prove to be conservative. I hope that current holders can weather the financial storm at the moment to see those better days ahead.