Still Confident?, page-19

There is a lot of discussions about Iron Valley royalties stream but does anyone knows the break even level for that project. The reason I ask is that pre-merger I was very keen to hop on board but even since that news, this has been sold down so aggressively for a reason.

My main concern are that with the finalisation completed today and having bought effective script + 10C each IOH share, they are assuming that royalty stream from Iron Valley will be flowing in to "replace" the cash backing for the merger. Back then when the merger was announced, there was still a healthy margin on that assumption but with the current IO spot level I can only suspect there is a risk of the royalty stream not present. I would like to hear form holders with intimate knowledge of this transaction.