MIS issued to ASX today Austock Conference Presentation
Half Yearly Results looks great reading Page 3 Dedicated iron ore coy with strong Chinese support for development in context of strong 20+% pa gowth in Chinese demand
Successfully bedded down 1 mtpa DSO starter project - 520,100 wmt shipped as at 30 Sept 2006
Company is profitable and on tack to achieve 50% operating margin
50:50 JV with Sinosteel has established project studies team for development of Weld Range hematite & koolanooka magnetite
Weld Range major project with target 300 - 400 mt for developmetn in late 2010 - drilling on schedule (7.990 m drilled to 13/10/06) with assay conifriming Fe 60+%
Page 5 Revenue $13.17 mil Gross Profit $5.18 mil PBT $3.10 Cash 11.59 mil after investment in infrastruture for start up operations Cash from operations approx $1.5 mil per month
MIS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held