austock conference presentation

SP up two cents to 66 cents today

MIS issued to ASX today Austock Conference Presentation

Half Yearly Results looks great reading
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Dedicated iron ore coy with strong Chinese support for development in context of strong 20+% pa gowth in Chinese demand

Clear growth strategy for future ;arge scale DSO and/pr magnetite projects

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+%

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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