From the scantinformation and down beat tone in the FMS Sept...

From the scantinformation and down beat tone in the FMS Sept Quarterly report there is someencouraging news on the PIOP Maturation Work.

As thisQuarterly report states:

“The widening of the market discounts and penaltiesassociated with lower than 62% Fe product and high alumina and silicaimpurities appear to be of a structural nature and it is the view of theCompany that such discounts and penalties could have a material effect on thepricing of the probable PIOP Fe product. Dueto this concern the Company has started work on the options to upgrade thepotential PIOP product grade and to add to the existing JORC resourcesavailable for mining.”

This means thathigher grade ore with fewer impurities will mean a higher price and greater profitfor our IO.  Greater PROFIT = HIGHER VALUE for our shares.

I know thata significant number of interstate and localand shareholders will be attending the FMS AGM which is now only 3 weeks away.

We will be demandingand expecting a full disclosure on this upgrading work and also progress oninfrastructure solutions at this AGM.