Ann: Joint Venture discussions with Arrium for iron ore sale, page-23

Yes its the MOU that's important, and the detail in it that investors want to read, but the announcement to say they were working on it had to happen under disclosure obligations.

It does state trial pit in November ... so i guess at the latest we will know more by then at the latest.

Overall seems a great positive move, showing that Ironclad isn't dead yet, but agree most will want to see something physical happening before committed further funds.

All we can deduce would be no need for port etc, so that would save on upfront captial costs, so then its a case of mining/operating costs and sales value. Financing will be interesting and see whether Arium give some upfront payments to get things happening.

Many questions, but yes we are just waiting for MOU details and we dont know when that will be completed/presented.

However I am more optimistic than I have been in a long time. Good luck all.