Ann: Presentation - Africa Iron Ore Conference , page-34

re: Ann: Presentation - Africa Iron Ore Confe... Hi Pikapika and Jonnes,

Thanks for your earlier replies.

I just got off the phone with Sundance, who were very helpfull with clarification of what announments we can expect in the June Qtr (ie prior to 30 June).

Jill referred me to slide (or page) 11 of the recent presentation, and explained that we can expect news regarding the top three items of stage one, that is:

1. Mining, Processing and Infrastructure
2. Rail
3. Port

This is circa 75% of the entire stage one costs, or the "lions share" of Stage one as Jill put it.

Jill also stated that these costs on page 11 date back to 2010, and that the final winning tender costs will be "as good if not better".

Jill also stated these three items are "mutually inclusive".

Regards