100 WEEKS TO PRODUCTION

FLINDERS MINES (FMS) / SOON TO BE RED HAWK MINING LIMITED (RHK)

After a lengthy conversation with Flinders Mines Managing Director and CEO Mr Steven Michael on Thursday 6/07/2023, I will mention roughly what we talked about.

Firstly our new MD / CEO said that Flinders Mines isn’t interested in building infrastructure for the current mine development.

He said that PIOP Mine Co Pty Ltd (which holds the mining licence M47/1451) is 100% owned by Flinders Mines.

Flinders Mines, soon to be Red Hawk Mining Limited (RHK) want to start with what can be easily achievable… Starting with 3million tonnes per annum will be a good number to get things operational in 2025 and to make sure everything runs as it is supposed to, rebuilding a strong reputation.

It was said that there were no plans to build Todd Corporation’s BBI’s Balla Balla port as Flinders Mines is not in the infrastructure building business… which is good to hear.

It was said that there were no plans to build Todd Corporation’s BBI’s proposed railway as Flinders Mines is not in the infrastructure building business.

I could be wrong, but I believe it was said it will cost around $200 million to build the mine on our PIOP tenements, but this will be firmed up in the scoping study, so after scoping studies are completed, the FMS Board should know their next moves to go forward. Outside investors would be required to go mining… but all of that will be announced at the right time.

I believe it is full steam ahead for the Flinders Board as there is only around 100 weeks to production, and they are trying to move forward at around 1% a week

I found it very refreshing talking to Flinders Mines MD & CEO Mr Steven Michael about all of minority shareholders concerns… everything. I found for the first time there was lots of positive news that he and the Flinders Mines Board are really trying to achieve.

I don’t know when 100 weeks to production start date was, or when the first ore from Flinders Mines PIOP is supposed to get to Port Hedland… but for the first time in a long time, I believe something is really happening.

SET