Well, I’d say most of us saw that coming.
Haw didn’t have the capacity to contribute to the $5B+ capex, so opting for the 1.0% royalty was a smart and strategic decision. While it may take some time before mining begins, this future royalty could be worth $400M+, assuming they go ahead with this project. As they get closer to mining and selling ore, there’s a strong chance they or someone might end up acquiring Haw.
Ann: Mt Bevan Iron Ore Joint Venture - Royalty Election, page-2
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