Guennadi, Thanks for the information. The FMG feasibility...

Guennadi,

Thanks for the information.

The FMG feasibility appears to based on a 62% Fe Platts reference price of $US72.00 per tonne. Current price today is $us61.10.

There is a premium for $3.50 for the processed material plus $1.16 per 1% over 62% Fe.

GBG appears to be in the order of 66% Fe content which would equate to $US4.64 + $US3.50 = $US8.14.

Maybe the sale price should be in the order of $US69.24 per tonne on open market, but GBG is not in open market.

Interestingly FMG freight costs reported yesterday were approx. $US2.00 per tonne.