Ann: Mt Bevan Iron Ore Project Maiden 617Mt Resou, page-42

re: Ann: LCY: Mt Bevan Iron Ore Project Maide... imo is a standard disclaimer clause to remove responsiblity from them and also guarantee themselves more work.

below is JMS resource (note the "inferred" for your info)

??Inferred Resource 530 million tonnes at 31.94 Fe, 1.10 Al203%, 45.88 SiO2%, 0.074 P% and 0.201S%

HAW/LCY is bigger with hardly any impurities. now decide if HAW is undervalued. based on 40% of 617mt some research i did last night on recent transactions for magnetite HAW are undervalued by at least 100% at the moment. refer to the following web address for info:

http://www.proactiveinvestors.com.au/genera/files/sponsor_files/aon_resource_cap_note_20090707.pdf

in particular this section:

"One of few WA magnetite projects not under Chinese
control. Recent transactions indicate US$0.66-US$2.20/t
Fe, with higher prices for large or advanced projects."

dyor