more ore

I received an email from a representative of FMS - Nick Corlis yesterday, regarding the benefication of the IO from the FMS tenements which stated:

Quote:

We are "currently" carrying out beneficiation "testwork" – it requires a systematic approach to make sure that the most effective and cheapest option is selected. Without this information we made a call on the iron “cutoff” of 50% iron, or minimum grade we would put into our model. If the beneficiation work is successful we may well drop the cutoff to closer to 40% iron which would increase our tonnage.

"THIS STATES THAT THEIR "MAY" BE AN INCREASE IN THEIR ESTIMATE OF 476Mt THROUGH THIS BENEFICATION PROCESS.

BUT EVEN WITHOUT THE BENEFICATION

FMS have been right on the mark with their estimates of the ore that they expected to get out of the ground to date as from last years announcements which included as a whole the areas of A,B,C,D & E.

So you can just about be assured that they will be pretty close on what is to come from Area A. Which is about another 250Mt.

476 + 250 = 726Mt.

This is pretty signifigant in anyone onlookers eyes, especially those big miners that sit just on the other side of the fence, and those that have been aligning themselves with those big miners lately - Namely the chinese, and the Aust Govt.