Investor Presentaiton
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GROUND FLOOR ENTRY
AND ACQUISITION TERMS
Acquisition price for Rio Pardo US$56M
Terms: US$1M paid, US$5M not before October 2011, balance spread in yearly
payments over 5 years. Royalty to the Vendors of $1 per ton of exportable Fe
material and $3 per ton of exportable Mn product
Acquisition price for Granduvale US$59M (See ASX Announcement 13/12/2010)
Subject to due diligence payment of US$1M in 2011 and further staged payments
totaling US$59M over the subsequent 6 years with a right to withdraw from the
project and any ongoing payment obligations at any time. The Company will also
pay a royalty of US$1 per tonne of iron ore pellets, pellet feed or sinter feed
produced over the life of any mine developed on the Granduvale Project.
Drilling and feasibility work is at advanced planning stage to delineate initial JORC
compliant resource and scope project feasibility
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Cost of this initial work to confirm project value – estimated at US$4M
Funds to be spent in the ground to create immediate additional value
MINAS NORTE MINERACAO LTDA
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