Ann: Quarterly Activities Report , page-5

ratio 0.64 is high probably due to mining development, as that ramp up it may go higher, a broker report suggested less than is to be expected 0.4.

Previous quarter contained the high phosphorus levels which I believe has been corrected via in-mine ore blending.

I think we will find the stock has been sold at probably a lower sales value.

I believe the locally the Lump will be around AUD$50/t at the lower quality end to AUD$65/t at the upper end and Sinter AUD$30/t.

Struggling to work production cost based on the quarterly, the production cost was $554k which equates to $9/t. Someone correct me if I am wrong.

Why the dud tag?

Understand the there is one ore resource which sits on two tenements, one of which is Vale. Vale will need to access SFZ land to extract a larger pit profile.

So what does this mean??? Either SFZ or Vale will mine this one ore resource. Somehow I can't see SFZ taking over Vale.

MC is $33mil, an offer of $100mil will easily get my shares.

Why so many rigs? 7 rigs sounds like they are in a hurry to prove up what sits on their side of the fence.