Resource and Product Specifications

Iron Ore Resources

The quoted iron ore Resources are 100% owned by Ferrowest.

The following Inferred Resource has been classified and reported in accordance with the Joint Ore Reserve Committee (“JORC”) Code that governs the proper reporting of Resources and Reserves for companies listed on the Australian Stock Exchange.

The details of the Inferred Resources are:

Resource Classification
(Ore Type)

Million Tonnes

Fe
%

SiO2
%

Al2O3
%

P
%

LOI
%

Inferred (Fresh)

485.1

27.25

48.30

4.99

0.059

-0.15

Inferred (Transitional*)

67.1

26.96

48.02

5.33

0.056

0.98

Inferred Total

552.2

27.21

48.30

5.03 

0.059

-0.02

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Graeme Johnston, a Fellow of the Geological Society of London and Malcolm Titley, a Member of the Australasian Institute of Mining & Metallurgy.

Graeme Johnston is a Director of the Company and a geological consultant to it through Corad Pty Ltd. Graeme Johnston has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2004 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Graeme Johnston consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Malcolm Titley (MAusIMM) is a Director and Principal Consultant of CSA Global and is responsible for the estimation of the Mineral Resource for the Yogi deposit. Malcolm Titley has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in the 2004 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and ore Reserves. Malcolm Titley consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Iron Ore Concentrate Specification

The specification of the representative iron ore concentrate produced from the Yogi ore deposit is:

Fe%

SiO2%

Al2O3%

TiO2%

P%
(XRF)

S%
(XRF)

Cu%

67.0

5.36

0.58

0.07

0.012

0.023

0.002

Merchant Pig Iron Specification

The provisional specification for the merchant pig iron from the Yalgoo Iron Project is:

Friday, 1 January 2010
Last updated: 29 Jun 2010 12:34

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