Ann: SIMEC Exclusivity Extended on Iron Ore Projects, page-55

"A letter to shareholders was released by CAP following this week’s FMG Iron Bridge announcements: see Post #: 38007166 "

Yes, CAP's 5 April 2019 letter to shareholders made for some interesting reading re: FMG's Iron Bridge magnetite project in Western Australia. The key extract for me from that CAP letter was the following paragraphs:

"The market pull to develop Hawsons is strong and has become even stronger. In a signal that high quality ores will proportionally displace low quality ores, Fortescue Metals Group (FMG) is targeting a majority of its iron ore products to be higher quality with the approval of the Iron Bridge magnetite project, as announced by FMG on 2 April 2019.

Notably, Carpentaria’s Hawsons Supergrade® product offers the world’s highest iron ore content at 70% Fe.The market has shown its preference for higher grade ores, with the Platts 65% Fe index currently more than US$100/t.

Iron Bridge and Hawsons are two Australian magnetite projects at the pre-bankable feasibility study stage where the quality of their output once in production is the key driver for development. Based on the Hawsons prefeasibility study results (refer ASX announcement 28 July 2017*) and public data, Carpentaria expects a high profit margin and short payback period for Hawsons because of the Hawsons Supergrade®product’s quality. (Refer to the appended table for a comparison). This quality, together with existing and available infrastructure and other advantages the project has, makes Hawsons a compelling development case."

HAV's iron ore assets (Maldorky, Grants and GIB) are close to available infrastructure (closest to Transcontinental Railway, sealed Barrier Highway) and have other advantages (lack of overburden, estimated yields between 33-40%).

Petra Capital's 11 April 2019 HAV research report (see Post #38112682 ) did make mention that "Grants is a large iron ore deposit close to existing infrastructure with an exploration target of 3.5-3.8 Bt at 24%-28% Fe. It has some similarities to FMG's recently approved Iron Bridge project in WA."

I suspect that SIMEC Mining has noted those similarities.

I had previously covered FMG's Iron Bridge project key points in my 3 April 2019 Post # 37977547

HAV Management has NOT yet made any comments on or comparison with FMG's Iron Bridge project, either in an ASX release, Tweet or a Facebook post. Which is a missed opportunity, IMLTHO.

Cheers

These are only my random 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.