Ann: Response to ASX Price Query , page-9

All due respect but I'm not sure what bad news there could possibly be for the small retail investors to "find out" about this stock.

We aren't waiting on anything right now - FMG still have about a year on their Iron Valley option - which cost them $20 mill so it's not like they are going to walk away from IV any time soon. Worst case they walk away next year and we keep the $20 mill.

Buckland Hills is sitting pretty, we haven't been promised anything there except a PFS to be completed before year's end. The contracts have been awarded.

Maitland can only get bigger... In fact the resource inventory can only increase - unless we experience some Fe evaporation.

The only bad news here is that the buy-back appears to have been handed over to a 15 yr old work experience kid at Fosters. Hopefully someone with a clue will grab a hold of that soon and there wil be nothing at all to whinge about.