Ann: Wilcherry Hill Iron Ore Project Update , page-2

I note that I.F. now says the DAC meeting is expected in 'mid October' where previously he had said the 10th. So is it the 10th? If not, it would have to be LATE October at best. Unfortunately the DAC's website hasn't been updated to show the 10th's agenda yet, but until it is history suggests I.F.'s predictions are not to be relied upon.

Also note under the number '3' the following:

'Undiscounted at US$110/tonne based on a sliding exchange rate applied, starting at
USD$1: AUD$0.90c to AUD$0.82c.'

An exchange rate anything below 90c, let alone 82c, is looking very much like a mirage now.

I'm still bullish long term here but now a bit doubtful that we'll get any satisfaction next week. Hope I'm wrong.