Ann: Investor Presentation , page-7

Hi Skinnifer,

Sorry, but I have to disagree. I was talking about the in situ rock in the deposit, not a crushed material.

A lightweight rock, e.g. a sandstone weighs about 2.3 t/m3, a granite comes in at 2.7 t/m3, a basalt at around 3 t/m3.

Iron-bearing rocks are heavier, pure hematite has a density of just over 5t/m3, but since the deposit is not pure hematite, I went with 4 t/m3 as a guesstimate.

Correct me if I am missing something here.

On a happier note, after reading today's ANN, perhaps I have underestimated the average thickness a bit...