Overview of FMS - Lets not forget this project has a lot going...

Overview of FMS - Lets not forget this project has a lot going for it.

$ Large Resource -  Base and Upside Large 1,040Mt hematite resource with significant exploration upside supporting a long-life, low strip ratio operation with simple processing

$Ideal Location  - One of the last remaining independent iron ore juniors in the Pilbara, a world class, low risk iron ore region with close proximity to dominant target markets of China, India, South Korea and Japan

$ Strong Product Marketability - Marketing analysis and visits to steel mills have shown there is strong demand for Flinders’ product with 10 MOUs in place

$ Further sinter test work will be completed in January 2015 to confirm product specifications and performance for a single fines product Once sinter test work is completed Flinders will complete its marketing program with the aim of completing offtake agreements for PIOP product at the rate of 25Mtpa


$ Advanced Status and Clear Approvals Path Project will be significantly de-risked once initial rail approval is achieved with other approvals expected mid 2015

$$ Alliance Agreement Executed -  Realistic route to market secured via Alliance Agreement with Balla Balla JV participants - Rutila Resources and Todd Minerals (The Todd Corporation is one of NZ's largest and most successful companies with interests in oil and gas, energy, property, healthcare - Pretty substantial backing if you ask me - perfect opportunity for Todd to take a bigger interest in distressed IO assets at Bargain basement prices)

$$ Excellent Project Economics - Robust project economics with low operating and capital costs in the burgeoning, unconstrained West Pilbara iron ore region targeting FID in 2015

$$ Scarcity of Quality - Projects One of the few remaining independent, high-quality hematite iron ore projects of scale left in Australia

$$$ Flinders has appointed Worley Parsons to complete the BFS for the PIOP, which is due for delivery in
June 2015.