Ann: Iluka Zircon Reference Price Increase, page-13

I'm not a chartist apart from watching basic price and volume movements. But ...

1. Read the key points on Pg 1 in the last HY financial report. Overall, they are in a strong position , reducing debt by half, plenty of FCF, rutile/zircon prices increasing.

2. Stock has been on an upward trend in the last 21 months. It was just market sentiment over the last few weeks that droves prices down. No negative announcements were made.

3. Every time the ASX goes sub 5700 the market panics and has a sell off.

4. SP price is bouncing back quickly and sharply, indicating the market knows it is undervalued. Does not look like a deadcat bounce to me.

5. We are approaching our next resources boom, and once it kicks in it is possible the SP could go to $18 again in the long term circa 2012.

6. All but one of the fund/broker analysts has the SP at approx $10 - $11 .

As always DYOR.