minimum 60p.c fe and jorc due this month, page-11

This borrowed from Brantleys post on the weekend

The Project can be summarised as follows:

* "An asset base conceptually estimated by Austind to be at least 200 MT of iron ore grading 60%+ Fe, occurring primarily as hematite and magnetite, hosted by banded iron formation (BIF) lithology.

* Tonnage estimates are based on the spatial size of the �Iron Ore Hill� and assumes a conservative depth extension of 100 meters and limited width.

* The Project is contained on 350 acres of land (located at Kakkur Village) where Austind has advanced negotiations to freehold purchase via MOU with the land owners.

* Preliminary investigations by Austind, of limited testing completed by a government department in India, indicates hematite may comprise 93% allowing a conceptual residual Fe grade of approximately 63%.

* Site visit conducted to the Kerala Iron Ore Project has verified iron mineralisation occurring continuously over approximately 8kms of strike.

* Rock chip analysis has returned results from pervasive, large magnetite orebody with Fe grades ranging 43-52%, which compare favourably to global averages for magnetite ores.

* Test work completed by the Indian Government indicates the ores are amenable to beneficiation, and 65%+ concentrates are achievable.

*The deposits are easily accessed by sealed roads and village tracks 17kms
from the main town of Calicut, and are supported by power and infrastructure and port facility."