I would hazard a guess that we will stick with Hatch as they’ve already completed milestone work for the PFS, were selected for design and DFS completion work. The company already has a working relationship with them & If they complete everything they’ve been asked satisfactorily or above expectations I highly doubt there’d be pushed aside for a new or cheaper bidder.
Our management team have already shown a willingness to select compatible partners, bring specialist management onboard to assist for moving forward all of which we know aren’t the cheapest option. I am all for the sayings “you get what you pay for or one of my favourites from Norman “Sailor Jerry” Collins - Good work ain’t cheap... Cheap work ain’t good!! I believe this is where you’ll find some of the major cost blowouts have arisen in other large scale magnetite projects currently under construction in Australia.
Whilst we are moving to slow for some posters on here, I believe they are being meticulous & methodical in the planning & design phase so we can avoid the exact disasters you are eluding to. They have been around the block a few times & would expect they have definitely learned from the recent project disasters that are causing $B’s in blowouts. Yes our situation is different for many reasons but the lessons can be applied just as effectively.
Hatch’s company ethos is also very closely aligned to ours with regard to ESG, incorporating cutting edge & emerging technologies to deliver a better result not only for us as share holders but even more importantly the local communities inc indigenous stake holders who we will interact with. Because if our company ever had a massive cluster f#%k like RIO did as a SH I’d be calling for heads to roll. I have personally experienced the result where major Australia mining companies have placed profit above all else rolled over locals, destroying the lives of hundreds of thousands of people literally sending them back in time then walked away with not a care in the world. I do however believe Mark & Peter when they say what they do & that we will be a better company than that.
The world will need I/O for a long long time to come, the difference is we can & should mine it better then it has previously been. We will be connected to abundant relatively cheap renewable energy, which could potentially power all of our mining equipment (yes I’m sure twiggy will get first dibs once Williams engineering produce the goods, after that it’ll go to the highest bidders/first clients) use magnetic separation, have low strip ratios, currently researching the use of artisan basins which from memory were slightly saline water that is of little use to anyone else, who know maybe we can purify that and sell the salt as well.
I’m sure it’s clear to anyone who has read my previous post that I strongly believe in this company & the low cap approach they are taking is a cautious however prudent one. We can expand quickly & easily to achieve even better economies of scale however only need to a relative modest (in mining terms) amount of finance.
It’s all my own opinion and as anyone can see HC is full of them & as in life take each with a grain of salt because I’m sure there’s someone on here that would be more than happy to reply with the totally opposite view point.
Good luck to everyone tomorrow & fingers crossed for a standout report.
Cheers.
NFA DYOR IMHO
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