Ann: Change of Directors' Interest Notices, page-11

Upon permitting being granted, this will run.
have a look at how the iron ore price has held up during the corona virus fiasco. This deposit is high grade and will likely be sold at a discount to the 65% FE price and then add the lump component. In addition, the AUD to USD currency bonus. This currently equates to $AUD 170. With all in costs of just under $AUD 100, all they need to do is produce 1mt and that is $AUD 70m profit.

The scoping study says a life of mine of 6.5 years at 1.25 Mt per annum.

very modest CAPEX for start up which would likely come from offtaker.

This is a no brainer in my view at these levels.

Please DYOR and take your own view.