IOH Sp>59cMC>69mreported JORC Indicated Mineral Resource of 8.3...

IOH Sp>59c
MC>69m
reported JORC Indicated Mineral Resource of 8.3 Mt @ 58.1% Fe

CUL>sp>13c
MC>72m
Catho Well deposit is 23.85 Mt @ 55.34% Fe


Iron Ore Holdings Ltd Quarterly Report 30 June 2008 2
Activities Report for the Quarter
Highlights
 Iron Ore Holdings (IOH) entered into an arrangement with Rio Tinto for
an annual mine gate sale of up to 1.5 million tonnes of iron ore from a
new mine to be developed at Phil’s Creek, north west of Newman.
Mining is anticipated to commence at Phil’s Creek by the second half of
2010 subject to negotiation of a formal ore sales agreement with Rio
Tinto.
The Board believes that the arrangement with Rio Tinto gives IOH, as a junior
iron ore company, the ability to sell its ore without the need to incur
substantial capital costs for related rail and port infrastructure and represents
a significant milestone for IOH and its shareholders in this transitional move
from explorer to miner.
 The Phil’s Creek deposit comprises 8.3 million tonnes of Indicated
Mineral Resources grading 58.1%Fe, reported in accordance with the
2004 JORC code. The pisolite ore deposit is situated only five kilometres
from Rio Tinto’s Yandicoogina mine.
 Following the confirmation of the feasibility of developing the Phil’s
Creek deposit, the mine would be owned and operated by IOH, and Rio
Tinto would purchase the supplied ore and transport it for sale to its
customers. IOH would deliver the ore to Yandicoogina stockyard where
Rio Tinto would assume ownership and accommodate it on its
integrated rail and port system.
 A Definitive Engineering Study on the Phil’s Creek Project has
commenced and is due to be completed by February 2009.
 URS have commenced an Environmental Scoping Study on the Phil’s
Creek Project.
 Diamond drilling completed on both Phil’s Creek and Extension
Projects.
 Metallurgical testwork commenced on the potential of upgrading lower
grade from Phil’s Creek and Extension Projects by beneficiation.
 Drilling of Horseshoe Project located 25 km west of Phil’s Creek
commenced in late July 2008.
 Confirmation from the Department of Industry and Resources (DoIR) of
the granting of the Weeli Wolli (E47/1385) and Koodaideri South
(E47/1539) Projects adjacent to the Phil’s Creek Deposit
 Capital raising of $21m through a non-renounceable rights issue to
advance the Company’s projects was completed. Wroxby Pty Ltd, a
subsidiary of Australian Capital Equity now owns 51.7% o


DYOR My opinion only Stef