Reality check, investors should not forget what fantastic Assets...

Reality check, investors should not forget what fantastic Assets this company owns.

Irvine: "Estimated mine life of approximately 21 years"

Located 2.5Km from Cockatoo Island; Potential for integrated operations


Investor Presentation June 2013


http://imagesignal.comsec.com.au/docserver/01415900.pdf?fileid=01415900&datedir=20130611&edt=MjAxMy0wNi0xMysxMTo0MTo1MisxMjArMCtjb21zZWMrcmVkaXJlY3QrL2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvUERGVGltZW91dC5odG1sKy9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZmRlbGF5ZWQuanNw



•Located 2.5Km from Cockatoo Island; Potential for integrated operations




•Natural deep water access suitable for Panamax (DWT 65,000 to 80,000) and Cape Class vessels (DWT 160,000 to 180,000) close to the proposed mine site



•No rail infrastructure required


•Pre-Feasibility Study (PFS) completed 2012:


•PFS Highlights:


?Estimated mine life of approximately 21 years


?Project design which eliminates the need for seawall construction


?Low strip ratio 0.4 to 1

?Estimated production of 141Mt of pre-concentrate for

estimated final product of 72mt

?Production of a pre-concentrate 3mm product >40%Fe with final beneficiation to a high quality concentrate of 67.5% Fe by third party end users in Asia

?Low impurity ore
?
Low operating cost


•Native title coexistence agreement with traditional landowners in place