Ann: Investor Presentation , page-2

Some very interesting things here:

Firstly, I didn't realise the Min Res operation out of Iron Valley involves a haul road around 300Km using trucks. If they can make money there so can we at Buckland at around half the distance.

Regarding Buckland Project: IOH controls mine, road and port facilities (slide 10). I repeat - IOH will control the port facility.

Even at $90USD p/t and at an exchyange rate of 80c the Buckland Project is projected to deliver annual EBITDA of $240 mill (slide 20).

Looks OK.