Ann: Wilcherry Hill Iron Ore Project Update , page-5

Oh, actually sorry, I added the $5 and the $6 looking at my notes. Its says $5-6m plus $8-9m working capital so $15m as you say.

It is good to have some information. Fair bit of spin in there though. Mostly on budget except port! Can see where things went wrong. If you look at the previous $26m project cost it didn't even include containers. Now they are saying they needed 3000 containers costing $7000 so $21m. New plan for 270 containers will cost only $1.9m.

I have no expertise on this but bring the transhipping point back from 8miles to 5 miles seems not easy for approval? Why didn't they do it closer in the first place?

I guess possible shipping q1 next year. They saying this month to get application in and then three months for approval. Its pretty much a new project to me though. They haven't even given a shipping date and even if they did, who knows what may go wrong from here. I had though late next year but with so much changing I'm going for 2014 now.