2022 the year of MGU, page-90

Dano indicated in the webinar that the overriding problem with cost estimates was the exorbitant rise in shipping costs at that time due to the dislocation of the shipping industry as a consequence of Covid 19. The same thing happened with shipping costs here.

The Company has wisely focused on pig iron production for all of the reasons articulated by donegaldemon.

The opportunity is exciting but as it is a value add proposition it will take time to finalise the feasibility and financial model. I would think that this is the time that the likes of Anglo would be in a position to committ as would other financiers.

The issues that you raise are just factors of the new strategy.

If you choose to focus on those issues then that is your decision.

I prefer to focus on understanding how Magnum may capture the opportunity in front of them and am hopeful that we will find that a huge amount has been going on behind the scenes and the vision will become clear.

Its the right project in the right place at the right time.

Good luck