Ann: Corporate Update - Whim Creek Project, page-88

The moment it broke the historical high it was going to run on technicals alone. The unique thing about it though is the fundamentals are really crazy at the same time. It will stabilise eventually at these higher prices (close to 12k per ton) but once those prices are maintained, it's going to force many mines into development.

Long term though, even though new mines are coming online if India and Africa industrialise I question if new supply can even balance that out. We might see closer to 15k per ton in that scenario.

Either way, whim creek is very well positioned to take full advantage of this macro. Shovel ready, low capex, low MC and supportive macro.

Good luck everyone, I cannot wait to see the terms of the financing management has been working on.