He did say it at the AGM as it was one of the questions I asked.
He said normally it is 3-5% but he said our special price was 2% on FOB for fees.
Also current FOB price for IMX is $134 which you mentioned in your great agm summary. The DFS summary showed prices of $110 to $125 and Ian expects there is no reason not to get $134 and more, but again he is being conservative in his presentation.
This prompt me to look at IMX presentation 02 Dec 2010. Some great pictures of the rail carriages to be used and how they will be loaded on the ship.
On page 15 it shows where IMX port storage area will be, and you will see there is plenty of room for IFE to have storage next to them. They say they will be shipping this month. I confirmed at the AGM the same port facilities will be used by IFE therefore no extra time to build or huge capital need to be outlayed except for minor items. The port should work out to $15 cost per tonne.
IMX will need to travel 879 km's to port a whole 500km's more than IFE, yet they can make their project work and be profitable, so I can't see us unable to do the same.
Check out page 10 also, and it shows how high we are in the scale for weight recovery and FE concentrate % compared to most other companies.
Cannot wait till next week.
TRF Price at posting:
44.0¢ Sentiment: LT Buy Disclosure: Held
