Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-7

I agree that the "Overview and Outlook" was definitely the part of the quarterly that is worth a read - so keep reading or skip to page 5.

Combine those comments with the recent Wood Mackenzie Metalmorphasis report which included things like:

"As a result, the EAF share of global steel production will increase from the current 28% to almost 50% by 2050, according to our base-case scenario, requiring at least 550 million tonnes of new EAF capacity"

"The iron and steel sector has long been aware of a shortage of high-quality iron ore to feed DRI demand and has finally stepped up its response"

"In our base case, we expect the industry to face a gap of around 200 Mt of high-grade ore by 2050. With iron ore accounting for around half the total production cost of DRI, access to the necessary grade of feedstock is becoming more pressing. There are solutions, though they vary by region and type of ore and come at a cost"

And you can see how there is a need for this project and how it offers a low risk way for those looking to secure suitable EAF feedstock. By low risk, I mean mining in a low risk country combined with low risk production of green steel meaning that all stages of mining, ore processing and steel making would use current technology and processes to make green steel (as opposed to working out how to process Pilbara hematite ore to suitable feedstock and produce steel using hydrogen).

What is not to like about Hawsons for our potential strategic partners. It feels like the race to secure long term and stable supply to make green steel is beginning.