large iron ore resources: update, page-4

13 Aug: Commencement of Pre-Feasibility Studie

http://sa.iguana2.com/cache/0078ce8e5fef9cb75e4a923d3cd09957/ASX-SRK-372532.pdf

Extracts:

"Based upon that resource announcement and upon internal modeling conducted by the Company with
respect to the remaining undrilled iron deposits within the Apurimac Project area, the Company has
reached a confidence level such that it considers it appropriate to commence pre-feasibility studies to
support a 20 million tonne per annum mining operation from its Apurimac Project area".


"In addition, the Company has also commenced studies in relation to sales and marketing of its proposed high
grade iron product to the Chinese and Japanese markets.

To date this work has been conducted principally inhouse with preliminary discussions having been instituted with significant purchasers in both markets. The response has been extremely positive with the view having been expressed that such purchasers are seeking suppliers able to deliver large quantities of high quality iron ore fines and/or concentrate over the long term".