Ann: First Premium Quality 68% Fe Magnetite Conce, page-2

re: Ann: First Premium Quality 68% Fe Magneti... ? Karara Concentrator successfully produces batches of premium quality magnetite concentrate
grading 68% Fe for the first time, marking a major milestone for the Project.
? Polishing circuit completed and commissioning underway, representing the final component of the plant to be brought on-line. Previously flagged filtering issue with the tailings system now fully rectified.

? Ramp-up towards nameplate 8Mtpa throughput capacity well advanced, with most key areas of the plant having operated for periods at this production level.

? Focus now on aligning and fully integrating all operating components of the Karara Concentrator to achieve consistent and reliable steady-state production. This is anticipated to occur in the December Quarter.

? Shipments continuing with 80 completed to date for 4.8 million tonnes since start-up in October 2012, comprising 3.5Mt of DSO and 1.3Mt of magnetite concentrate.


Overall disappointing imho!