Estim ated CA PEX Dec em be r 1 20 11 16 T h is e stim a te g e n e rate d b y B e n d ing L a ke Iron is a n u p d a te f rom p ri o r w o rk by B e ch te l B e h re Dolb e a r K rech O jard E lect roth e rm a n d o th e rs a n d a f te r p il o t p lan t te stin g a n e w e stim a te w il l b e g e n e rate d T otal Estimat e 990 M l Jos ephine Co ne Mi ne C A PEX E st im at e