What a coincidence this topic has resurfaced. I just bought the older version Mod. 70 with the 22" barrel (well, I sent the money, so assuming the guy sends the rifle, I have bought one).

Hornady's web site has a 74 gr. load of Varget that supposedly gives 2,152 ft/s for the 500 gr. solid. If that turns out to be true (or approximately so) it will be great, duplicating the old NE loads.

Someone I'm sure more knowledgable knows the Aussie equivalent of Varget powder.