Ann: Positive Iron Valley Progress , page-5

Just can't get my head around amicably gifting back $4 Million.

I suppose on the bright side we could have done it two months earlier and paid them $8Mill. The MOU was really dead the minute the ore price plummeted exposing FMG's cost structure and ensuing battening down. Maybe it was in the small print.

Looking ahead I personally think this is a good announcement in that is does clear the air and shows IOH's commitment to forge ahead and have the site mine ready asap.

Obviously a partner is now required but with no complications of existing arrangements we can open the kimono and discuss deals encompassing both IV & BS. The power of two.

I'm hanging in there