mining plan due this month, page-7

Hi Druidic,

We got to talk to Kevin Wills at the recent Iron Ore Investor presentation a couple of weeks back, we asked that very question re further capital raisings. If a decision is made to take the DSO path (and it looks increasingly likely) then further capital raising may not be necessary. He also stated that until the PFS is complete, it would not be prudent to make any decisions re striking up a deal with Asian steel mills or any other backer at this point in time, doing so may not extract maximum value to shareholders.

With demand expected to stay high for IO in the medium term at least then Flinders can afford to wait for the time being. I know things can change quickly for the better or the worse but it seems wise to take this course of action as the PFS, once complete, will give Flinders a much better idea of any strengths and weaknesses and a much more informed decision can be made at that time.

I have only met Kevin Wills on one occasion but he strikes me as someone who is very balanced and well informed in his approach to this venture.

Cheers