🕐20.11.08 - 03:18 Uhr

ASX Announcement - Company Update



Phone: +61 8 9277 2600
Web Site: www.ferrowest.com.au
Email:
ASX Code: FWL
19 November 2008

COMPANY UPDATE
Off‐take and investment arrangements on track
Presentation at the AMEC Investor Briefing in Perth on Saturday
Off‐take & Investment Arrangements - Yalgoo Iron Project
The Company is pleased to advise that the first of its off‐take and investment
arrangements remain on track for finalisation in early December as announced to the
market on 28 October 2008.
Discussions are also ongoing with other parties interested in participating in this
Project and the Company has found that interest in the Yalgoo Iron Project, which
proposes to produce 96%Fe merchant pig iron rather than iron ore, has not
diminished despite the current world economic turmoil.
AMEC - Investing in Mining Stocks Presentation
Managing Director, Brett Manning will be presenting at the ‘Investing in Mining
Stocks" investor day in Perth this Saturday, 22 November 2008.
These seminars are run by AMEC and are free to attend but booking in advance is
essential.

Shareholders in Perth are encouraged to attend as the Company has
always found the AMEC briefings to be an excellent way for investors to learn more
about their mining stocks.
Shareholders who wish to attend can register at:
http://www.amec.org.au/events.php?mode=view&eid=50
Media inquiries should be directed to: Brett Manning - Managing Director +61 8 9277 2600

The Yalgoo Iron Project - Outline
Ferrowest Limited is developing the Yalgoo Iron Project aimed at producing seaborne traded merchant
pig iron (96%Fe) from the Yogi magnetite deposit near Yalgoo in the mid west region of Western
Australia.

Proposed initial production is 1,000,000 tonnes per annum.

The plan to process the iron ore
to pig iron is premised on the ITmk3® technology and excellent existing infrastructure servicing the
Project area.

The resulting value added merchant pig iron product will be a relatively high margin, high
quality, low volume product for export to quality electric arc furnace steel making plants worldwide.
The Western Haematite Prospect - Outline
Ferrowest Limited has identified a potential zone of direct shipping ore ("DSO") grade haematite at its
Yogi iron ore deposit 14 km east of Yalgoo in the mid west of Western Australia.

The prospect is to the
west of the main magnetite ore body that forms the basis of the Yalgoo Iron Project.

With a surface
expression of 2km in length and with varying widths up to 50m wide it has significant potential as a DSO
project.

Surface rock chip sampling along the Western Haematite Prospect produced an average grade
of 55%Fe.

Exploration of this deposit is currently underway.

Phone: +61 8 9277 2600
Web Site: www.ferrowest.com.au
Email:

 




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