trading halt, page-73

stephensorich,

if the announcement due early this week is confirmation of tranche 4 funding for irvine + funding for cockatoo, we will be as excited as pigs in excrement!

This means we will be shipping DSO from cockatoo in 12 months time (there is bucket loads of low grade Ore there as well which we will blend in with the Irvine ore), April 2013 as per previous company announcement. That's 68.5% Fe content, premium product = premium price (~$US30 above spot price). Not sure why people here say late 2012 there has been no guidance from management to that effect.

Also the Irvine island project is a GO subject to EPA approval (circa 12 months time and a LOCK!) most likely late 2013 (happy to be corrected).

So basically in a couple of years time we will have a barge sitting in between both islands getting fat gorging off a pair of trans-ship loaders full of DSO from cockatoo and ~40% Fe pre-concentrate from Irvine.

Leaving the coast of WA and making the shortest trip possible from Australia's IO hub to China, the PLV Express has a reserved parking bay, front and centre in the port of Rhizhao. The goods are ready to be rolled off and straight into Timeone's (ie. PLV's) beneficiation plant (for the Irvine ore).

Now multiply this activity by say 25 years..

How do you like them apples?

Cheers
SuperTim