2022 General News etc, page-28

The following is of minor interest for the curious, but not all that relevant to NWH shareholders. IMO.

BHP's Oak Dam prosprcy 65k from Olympic dam is so high-grade in respect to copper, which is in short supply, that the mine development must proceed, IMO. The JV under discussion with with Red Tiger Resources for the Intercept Hill copper project, which borders its Oak Dam site, could hasten BHP to commit the CAPEX for the project to proceed. See https://indaily.com.au/news/business/2022/01/19/olympic-dam-to-ramp-up-after-major-smelter-works/

I have not kept up to date on RIO's Winu project, other than that I recall that the traditional owners were holding back their approval. Nevertheless, RIO is now targeting first ore in 2024. The latest quarterly report issued yesterday, reads, “At the Winu project in Western Australia, there has been progress towards securing consent from the Traditional Owners to the Project Agreement in advance of submitting the necessary environmental and regulatory approvals. Drilling, fieldwork and study activities continue to progress to schedule.”

Before NWH listyed, in 2007 NWH secured a RIO contract at Simandou, Guinea, and worked there until December 2012, when things went awry there. The recent quarterly report states, “At the Simandou iron ore project in Guinea, we continue to engage with key stakeholders in-country
including the Government of Guinea. We remain committed to an inclusive partnership, seeking mutual and sustainable benefits by developing our project in line with international social and environmental standards. A new drilling programme has commenced, and expressions of interest are being sourced for construction and early development works expected to be carried out in 2022.” I am unsure if NWH wants to toss its hat into that ring, because it probably has enough on its plate to warrant being selective.