consolidation of io sector, page-5

Hi(Alan Partridge)

Would make a very good J/V I think.

About 25 to 30 kls from each other.
Each end of BHP rail spur line.
With about $130 million in cash.
About 28 tenements between them in very good positions.
Close to rail.
DSO ranging from 57.5%Fe to 61%Fe.
Haematite Pisolite and Detrital iron ore heaps of it between them.Could well be 2+ billion tonnes after processing into pellet feed.
Both with Marra Mamba and Brockman iron ore.

Regards
Westcott.