true value of fms, page-25

Nice One,

If we were comparing just priority grades which we are not, then if we applied the same to UMC in comparison to FMS priority grades these are the facts and figures.

UMC - Bedded High Grade DSO (Indicated Jorc Resource)

76.13 mln tnns
60.20% Fe
3.7% SIO2
2.6% AL
.07% P
7.44% LOI

FMS - Bedded Iron Deposit DSO (Inferred Jorc Resource)

124.00 mln tnns
58.3% Fe
6.9% SIO2
3.8% Al
.08% P
5.3% LOI

Nice One, it still comes down to higher grade with lower contaminants.

I am not saying it can't or won't be mined using benefication. Thats the risk involved with I/O with a high silica level.

Brockman says they can do it.

However, at the end of the day the bottom line comes down to higher costs.

Will be interesting to see further results over the next year.

Cheers markco2