Mr Gupta's Fe needs can be met by HAV, page-27

"It should be noted that those iron ore assets didn't find themselves. HAV went out and found them"

The first Fe (magnetite) asset discovered by HAV Management was Lilydale, back during 2009:

https://www.asx.com.au/asxpdf/20100511/pdf/31q8kqb9jtqtm0.pdf

As the Lilydale iron ore project is 50 km from the Broken Hill to Adelaide/Whyalla rail line and HAV discovered shortly thereafter the Grants and Maldorky iron ore deposits (that are 8 km and 26 km from the same rail line, respectively), giving them a huge competitive advantage, further Lilydale exploration was put on the back burner.

There is no JORC resource for Lilydale, yet. Even though it has the highest Fe concentrate grade (68-70% Fe depending on grind size) of HAV's three iron ore deposits.

At a grind size of 106 microns, recoveries of up to 36% were achieved at Lilydale, for only a small reduction in Fe concentrate from 70% to 68% Fe.

68% Fe concentrate attracts ultra-premium grade prices in world markets, as it is highly sought after by steelmakers. Offsetting the costs of beneficiation.

HAV Management has previously advised that Lilydale has a potential iron ore resource >450 million tonnes, that by itself is currently Grants and Maldorky tonnage combined.

Note: Lilydale has potentially ~36% Fe at a grind size of 106 microns. When beneficiated, this could potentially be upgraded to saleable product at a grade of ~68% Fe. On a rough estimate, for the Lilydale iron ore deposit of 450Mt at an average yield of ~36% (meaning ~64% of the iron ore resource dug from the ground is discarded during beneficiation) results in a potential 162Mt of upgraded ~68% Fe concentrate.

Lilydale has negligible overburden and levels of impurities are also very low, similar to both Grants and Maldorky.

Aeromagnetic anomalies associated with magnetic ironstone indicate at least 35 kms of strike of the Braemar Iron Formation lie within HAV's 100% owned exploration licence that holds the Lilydale iron ore project .

Could Mr Gupta's Fe needs also be met from Lilydale one day?

Cheers

These are only my random (Mr Gupta) thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.

HAV fanboy: still drinking the Kool-Aid