Ann: Phase Two Wet Plant - Component Full Load Testing Continues, page-4

HIGHLIGHTS

Phase Two wet beneficiation plant wet commissioning continues according to plan.

Very low grade waste as the material feed producing more exciting results, with material beneficiated up to 58.5% Fe.

Result provides further confidence that normal ROM feed grade ranges between 25-35% Fe will produce high grade premium price product, grading between 58- 62% Fe.

Full plant commissioning process commencing today. Low grade iron ore will be progressively fed through the complete plant in the coming week.

Plant on schedule for Q4 2016 positive cash flow.


WOW 58.5% from from low grade waste