Ann: Mining 2011 Conference Presentation , page-6

Lots of caution here required as sentiment is against you....well for now anyway.

AFR has this story during week which I'm not sure many here have seen?

"Analysts see bleak future for magnetite projects

Many emerging magnetite iron ore miners will see projects fall over due to rising costs, tightening funding conditions and weakening prices, analysts have said."

You'll need to sub for full story:

http://www.afr.com/p/markets/market_wrap/analysts_see_bleak_future_for_magnetite_UFBiCFJL0S9Di5xdNtTNjI