Small Iron Ore Co TTY valued at $132 million; it is a small...

Small Iron Ore Co TTY valued at $132 million; it is a small producer; LCY will be many times bigger; it is just at an early stage of development, that's why it is being conservatively valued.

NMDC (assuming the deal goes ahead), will add value to LCY. In the next 2 or 3 years, LCY will be valued in the hundreds of million of $s. The second round of drilling at Mt Bevan will probably lift the JORC reserve to 1.5 billion tonnes.

The Yilgarn Iron Producers Association (YIPA)will work with government for the upgrading of rail & upgrading of the Port of Esperance.

LCY will be an exporter of iron ore. When ? ... maybe around 2013-2014 ? NMDC or other big investor will make it happen. (ie a big overseas customer-investor).

Current value ? ... well above present market value, but markets have difficulty avoiding volatility. LCY price will be higher, & the price will be volatile during its upward trajectory.

Current price will be seen to be very cheap buying.

This company can be another AGO or better.