Ann: West Mine North Mineral Resource Estimate , page-4

re: Ann: West Mine North Mineral Resource Est... If you read their resources carefully you will see that they report using a lower (1%) and higher (2.5%) cut off grades. And SFX has a higher grade core to most of their JORC resources.

To be fair, it's also too simplistic to say unless you report at 3 % cut off, an HM deposit is uneconomic - is it a strand or dunal deposit, is the deposit buried or undercover, what is the valuable heavy mineral assemblage etc?

And this was sold by Iluka after they decided to pack up and leave the Perth Basin to concentrate on the Eucla about 18 months ago. HM markets have dramatically changed and Iluka have now done a big U turn and announced a couple of months ago that they are going back to Eneabba. Don't know that that makes ILU the smart ones.

Anyway, I am most excited by their Dampier Project - it has the size and grade and it's zircon rich - this has the potential to make this company.