Still trading under placement price - Major Magnetite Opportunity w/ "pit to port" ownership

- Largest magnetite ore reserve in Aust
- 25% owner of new mixed use port development w/ green hydrogen partner on board. Other owners of Portalis are Macquarie + farming co-op.Owns all of the port land
- 75% owned by global private equity resources fund Sentient - has had only successful FIRB applications in IRD - Sentient investors are some of the world's biggest pension funds - means very limited free float & sticky hands not swing/day traders
- At current IO prices, you can extrapolate from the slides attached that this could be a 100% IRR project, which is exceptional given the scale of the project (11mtpa)
- Major partner being sought for IO, Macquarie is on board for the port, Sentient in the equity - means big players and balance sheets are falling into place to fund large capex requirement

- Still trading under 21.5c placement price, and with a market cap below M.G.T. which has yet to release a OFS and is largely retail ownership (I am a holder of M.G.T. and a big supporter, just pointing out relative value)

Market still asleep on this one imo - the traders have their playthings but won't touch this because of the liquidity.