Ann: Pilbara Iron Ore Project Update, page-52

1 July 2015

Pilbara Iron Ore Project Update

The Directors of Flinders Mines Limited (ASX:FMS) advise that the parties to the Alliance Agreement have confirmed that the agreement term will not be extended beyond 31 December 2015.
The parties may have extended the agreement by 6 months if it was likely that the projects would be developed within a reasonable time after 31 December 2015.

As previously advised, Flinders has suspended expenditure on its Bankable Feasibility Study under the Alliance Agreement until a shareholder meeting is held to consider the Todd transaction, which is expected to be in August 2015.

IAN GORDON
MANAGING DIRECTOR

Now I know why board suspended expenditure on its Bankable Feasibility Study, Because the io resources and io reserve will be disclosed. board dont want us know the io reserve exactly.