iron ore , page-9

Grahod the southern deposit you are referring to is the cane river deposit with 100 million ton of pistolite ore. There are three deposits on the coast at Cape Preston which are referred to as Balmoral north, central and southern blocks.The southern block is the one that SHN have the rights to drill and prove up 400 million ton of magnitite and it seems Palmer is that confident he has garaurenteed tham 400 million ton from Balmoral central block which has a JORC resource of 2.5 billion ton and is one of the two deals done with Citic to mine 2 billion tons of magnitite ore.Thats what i understand from reading asx announcements.