thx is selling, page-103

Hi (3H)

Most people here seem to believe the rest of the tenements are duds going by what UMC have said,apart from Mt Robinson perhaps.If that is the case I would say it would not be looking too promising from BHP's position.Not some thing they would be to worried about if they did not get their hands on 200 million tonnes grading around 58%Fe.

Some thing is being hidden up with the other tenements that were showing CID,Detrital and Pisolite ore.
Also 6 areas of Marra Mamba with 5 of them bigger then Railway that were identified now have no Marra Mamba to report apart from perhaps Mt Robinson.

Look at all the FMS areas that they targeted before drilling started.All have come up with iron ore that can be upgraded.Brockmans Marillana tenement was tested by I think BHP and another big company and they walked away from it as not having any thing of value,too low a grade.

I believe most of the area around Mt Stuart and Red Hill is made up of CID,Detrital and Pisolite.There is Marra Mamba and Brockman to the East and South of Red Hill.
Rio have been and are still doing well in this area and Aquila are doing well in proving up good resources and are going to build a railway to port.

Magnetic pictures today make it a lot easier to pick the areas for iron ore and UMC have done magnetics on the tenements.

IOH did magnetics on the Weeli Wolli Prospect,identified a target,drilled and have come up with very good results.Resource was at 132.3 million tonnes as of 29th June 2009 with 67Mt at 60.7%Fe and average of 58.9%Fe.

A quote from a IOH document.It was marked:For personal use only.

Channel Iron Deposit-Pisolite Demand.

Yandi pisolite ore is in such high demand that any incremental ore produced can be sold readily.
Graeme Hunt-President,Iron Ore BHP Billiton Australia.
Metal Bulletin's Asia Pacific Iron Ore Conference-22nd Nov 05.

Regards
Westcott.