new research report, page-9

No problems jnikau.

I could expand on every point the analyst has written, but you've highlighted two very good ones.

Your point 2 regarding a mobile rougher spiral in the field also caught my eye and some people will probably ask - why build one of these?

The actual plant cost was around $45m and they have used all of the best equipment available. Now a wet mill is normally around a third the cost and size to build than a dry mill.

So let's hypothetically say it will cost around $15-$18m with a bit of cost over-run.

Now this plant would be mobile and would probably be the size of a very large two storey house. The idea behind this is to make a rough concentrate say at approximately 60 - 80% recovery rate. You would then transport that concentrate to the plant and run it through the wet and dry mills. So instead of you trucking 20% grade, you effectively have three times that, so the transport costs would be reduced dramatically. You would also be getting a higher production profie out of the plant because of the higher grade concentrate. Just a guess-timate, but I would say that you could get close to doubling your production of all the minerals, but that would depend on a number of factors.

Now the company has mentioned to us that this could be an important key moving forward, so you would be thinking they would have done some sort of scoping and design study, my thoughts would be that it would take around 12-18 months to design, build and have running, plus permitting time, but on that front you would think they would have at least flagged it with the local authorities. Perth is also the home of mineral sands design, so they would not have gone far to ask questions and rough costings.

Now if the company is serious about using a rougher spiral in the field, they would be working tirelessly right now during commissioning on getting the plant working well using the high grade material from the South Seven Devils pit, its probably part of the reason why they wanted to dig there in the first place.

Have I given you people information over-load yet? aren't you glad I didnt write about the other sections.

Pep :)