Ian has no idea in the confusion by investors like myself in our...

Ian has no idea in the confusion by investors like myself in our FE Study calculations... Shipping IS INCL in FOB Costs, meaning worst case on 1MT = 35 Million profit Yr1-----WORST CASE.

Yet he expects 50+ Mil average as he slightly bullish on Iron Ore... The next year over 100Mil pa for 2 MT. We talked for a long time and he was very direct in his comments.

So forward PE on WORST CASE for 2011 of 10 = 350Mil MC.... boy oh boy that a 7 bagger.

Buying more after that talk in both IFE and TRF. Even though I am Obese in these guys... it my next MHM ans SSN in my eyes.

They looking at all reduce shipping costs greatly by partnering, etc on larger ships. As shipping costs are HUGE expenses to the bottom line.

We are approaching the END GAME and Ian has no idea why he is not valued above an MC of 200M. Now under 50M. But that is life...

Hope this input help clarify some investors thoughts in terms of shipping costs. As some have been adding shipping costs for FOB Cost- this is incorrect. Shipping is included in FOB Cost.

Ian thought the modest worst case target of 35mil pa would have sent the stock flying... it did not.

Roadshows happening from next week also- he talking to many investors over the next 2 weeks as they approach the END GAME.

Cheers jay