Equipment

2

Equipment Equipment Cost (USD) Total Installed Cost(USD)

Primary Reformer 43,500,000 189,600,000

Shaft Furnace 35,400,000 145,000,000

Oxygen fuel booster 11,000,000 40,300,000

Scrubber 3,000,000 10,600,000

Heat Exchanger 1 5,300,000 21,700,000

Heat Exchanger 2 4,800,000 18,900,000

Zinc Oxide Bed 2,800,000 9,500,000

Compressor 3,500,000 14,700,000

CO2 Removal (MDEA) 10,500,000 41,800,00

Storage facility 12,000,000

Rail and Loading 18,000,000

Total 119,800,000 522,000,000

Expenses

3

1 Year (USD) 5 Year (USD) 10 Year (USD)Loans

(last years group) 34,000,000 23,000,000 3,000,000

Electrical 20,460,000 - -Natural Gas Cost (are we paying

for trades) - - -

Transportation Costs 72,225,000 - -

Salaries and Fringes - - -

Maintenance (last years group) 17,000,000 21,000,000 25,000,000

Iron Oxide 405,550,000 - -

Total Expenses 0 0 0

Revenue

4

Products Sell Cost/Ton ($) TPD $/Day $/Year

DRI 425 5100 2,165,700 790,500,000

Carbon Dioxide 15 4,239 64,000 23,360,000

Total - - -

Profit

5

1 Year (USD) 10 Year (USD) 20 Year (USD)

Total Expenses 0 0 0

Total Revenue 790,500,000 0 0

Income Before Taxes 0 0 0

Taxes (40%) 0 0 0

Income After Taxes 0 0 0

Total Income 0 0 0

Payback Period

6

NPV 809,000,000

IRR 18.24%

Payback Period 6.8 Years