Ann: Quarterly Activities and Cashflow Report, page-10

Unfortunately no relevance as it is for Ashburton Port access. That is about as far away as Port Hedland from the Blacksmith deposits. Of greater interest will be the FID for the development of Leichhardt’s Cape Preston East project which is about 70km from Karratha. Cape Preston East is earmarked as a multi user port. Should RH be able to get in on that project it could be a real company maker. The distance from Blacksmith Project to the proposed Cape Preston East Port is nearly half the distance from Blacksmith to Port Hedland. A real game changer if it comes off with enormous upside potential for cost reduction, increased annual tonnage and for substantial increase in profits.