Ann: Updated Mineral Resources and Ore Reserves, page-13

I just love these MR & OR reports. There is so much hidden detail in them.....

A few nice takeouts some of you may not have read re IV:

* MRL currently produces both lump and fines products.
* Current and planned mining of the resource is by use of conventional open pit methods. The current primary mine production fleet comprises Hitachi EX1900 and EX2600 excavators, Komatsu HD785-7 (90t capacity) and Komatsu HD1500 (144t capacity) dump trucks and Caterpillar 992 Front End Loaders or similar equivalents.
* Mining of the deposit below the water table is now underway with the approval for below table mining granted in December 2016.
* The Iron Valley Project is currently operational with TMM at 14Mtpa (wet) and scheduled to increase to 33Mtpa (wet) in 2018. Additional mining equipment of similar class to the existing fleet will be required and is planned for TMM increases from current levels.
* Additional approvals are being sought for the Bulk Ore Shuttle System (“BOSS”). The projected timeframe for receipt of these approvals is not anticipated to delay or impede achievement of the mine plan.
* Existing infrastructure in place supports current operational requirements at 14Mtpa (wet) TMM. Major additional infrastructure requirements are for BOSS. The MRL group is well placed to fund and build all additional major required infrastructure.
* The use of BOSS to transport product from mine to port will significantly reduce current transportation (hauling) costs. The BOSS proto-type system has trials and testing currently planned for completed by mid- 2018.
* A price discount of 17% has been applied for excess deleterious elements in the products.
* All Government and private royalties are payable by the tenement owner, BCI.
* The introduction of BOSS will create material haulage savings between mine and port compared to current road haulage.
* The proto-type system haulage trials and testing are currently planned for completion by mid-2018.
* Once the proto-type system is successfully trialled, construction of a BOSS line between the mine and Port Hedland can commence.
* For the successful development of BOSS, agreements and approvals will need to be in place with all parties associated with the planned BOSS land corridor between the mine and the port. These parties include:
# Government Departments (6);
# Tenement Holders (31);
# Pastoral Stations (6);
# Aboriginal Native Title Claimants (6).

So it certainly looks like MIN are pushing ahead with the possibility of BOSS coming to IV.

Now, that is exciting news! "...material haulage savings...."

Now think ahead to the development of Buckland...... Think of a BOSS system running to CPE......????

Opening up the potential start of the WPIOP????  Utilising CPE.....?????

Hhmmmm