PB must be confident on a deal.
He's had multiple parties in the data room for a while, but the '..discussion with others potential Strategic Investors' sounds like he's more confident to announce the potential. Ideal scenario is a Green steel plant looking for a offtake agreement.
The fundamentals are there for EU steel suppliers - the EU tax on dirty steel imports (CBAM) starts in 2026 and Macquarie place a 61Mt deficit for +65FE supplies in 2025 & 26. Given the length of time to get an iron ore operation going, you can understand how Paul potentially has a number of motivated investors at the moment.
GLTAH!
Ann: Strategic Investor Process, page-6
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