overview of ord - huge potential, page-44

Calculations on the value of the current JORC
of 130 million tonnes bauxite.

ORDs share (appx 25%)= 32.5 million tonnes

Figure about 3 tonnes bauxite to produce 1 tonne alumina = 10.4 mill tons alumina.

Equivalent sales price for Alumina $407pt

In ground Value of ORDs share of the total 10.4 million
tonnes alumina eqivalent resource

=10.4 million alumina tonnes x $407/tonne

= $4.23 billion to ORD prior capex and resource upgrade.

or about $9 per share.