the short-sightedness of this deal, page-11

Hi (haemitite)

I am still trying to understand your comparisons of SDL and Others.
SDL is expensive compared to options. Which Options?

SDL by its self may not make too big a difference to world iron ore prices,but the area SDL are in could make a big difference to world prices.Do I have to name the projects and grade of the iron ore that are close to SDL Tenements? I have listed them several times before.

Please name the Pilbara brownfield projects that are expantion options for BHP and RIO. Also please quote the grade of these options.

I know Simandou is very high grade DSO. I also know that the cost to RIO and Partner is very high.
Over 20km of tunnels to cut through hill sides. A lot longer Rail Line needed to get to Port than what SDL have to build.
Guinea Government want 35% of the Project.
RIO were spending around $20 million per month just for drilling on the Project a couple of years ago.
Because of the Guinea Government pushing for start up of production,RIO are looking to have to transport the iron ore to Port by Road to start with. Something like 800kms I believe.

Some of the Vale Projects in Brazil are a long way from Port as well,like 800kls or so.

Regards
Westcott.