Ann: Iron Ridge Project site works commence, page-14

Agreed, an offtake is vital for any re-rate to occur and I feel this is the most critical component left for the project to be a success.

IO is drifting down if you look at the week trend, however there are no signals to suggest that it will keep going down. Worldwide infrastructure projects will consume a huge volume of iron and supply will not be able to catch up anytime soon. I hope FEX do not fall into the trap of selling on current IO sentiment as opposed to the general IO trend.

The huge volume of sellers highlights the type of investors which picked up shares through Hartley's - quite a large portion just after a quick entry and exit. This will only be resolved by huge volume brought about by off take news otherwise we will be in a stalemate at current levels for a little while longer.