Ann: Wilcherry Hill Project Feasibility Update , page-27

re: Ann: Wilcherry Hill Project Feasibility U... "I guess IFE are selling to a chinese steel mill. So buyer get their margin by selling steel."

Mark, I was referring to OMS thinking that it was only on selling the ore to Chinese steel mills but, on closer reading of the recent announcement, it seems that it intends to process iron ore and on sell steelmaking raw materials.

"IronClad Mining Limited (ASX:IFE) is pleased to report that it has signed a comprehensive Sales Contract and Marketing Agreement with Singapore-based marketing and trading company, OM Materials (S) Pte Ltd (OMS), whereby OMS will purchase the first two year's of production of iron ore from the Wilcherry Hill Project in South Australia.

OMS is a wholly-owned subsidiary of ASX-listed OM Holdings Limited ASX:OMH) which has established mining, processing, marketing and distribution capabilities centred on the supply of steelmaking raw materials to the China market."

Stagman