ocean's view, page-10

Rio sold vale in Brazil when the world was going to end at $3 a tonne and they have to ship it up the river on a barge.

We have 100MT high grade - $300M - $1.90 + Bauxite .10

Would have to be at least $2 IMO.

$1.35 was based on a 3MTPA trucking operation to Port Headland. Whats a 6MTPA Trucking operation worth to FMG.

All this with a good outlook regarding IO in the future.

I cant see BHP/RIO competing Bids against each other.

Our new financial controller will be busy thats for sure.

Cheers