Ann: GRE and ANX form copper-focussed Pilbara Base Metal Alliance, page-63

Although there is some logic to this agreement to get all the base metal resources together, the fact is that without a mill and a plant this is all a bit vague. They need a permitted mine site with power and water and time to build a mill, whether that's Whundo, Whim Creek or Radio Hill - investors don't care - just effing do it because commodity prices are boom and bust, the idea of ore sorting is a good idea to upgrade ore being transported, as is the idea of a modular plant that can move after one resource is exhausted and get moved to another is also worth considering, but without talking to ARV and thinking about Radio Hill options this is ignoring the most obvious opportunity. just go ahead and either start construction or start drilling in earnest because the placement of any mill facility will be vital in minimizing trucking distances for operations in the future.

On their own Carlow Castle, Whim Creek, Sulphur Springs, Evelyn, Mons Cupri, Salt Creek may not stack up in an expensive inflationary construction world, unless they have a treatment option that is quick and probably imported. Other stuff with Ni like Mt Scholl, Ruth Well etc can wait until the price of Ni recovers once the Indonesians exhaust or shut down all the Chinese-owned laterite downstream capacity unless they have high enough Cu grades to make it on their own.

If Port Headland is the only port open with base metal concentrate handling capacity should that not drive the preferred site for a concentrator towards there or at least onto the highway? Assuming Cape Lambert and Dampier are all tied up with iron ore exports?