Ann: ARL SMM and MC to form a JV to develop KNP Goongarrie Hub, page-113

Brillant deal for all groups.
50/50 means all lean in and have vested interest.
SMM have already bought 16% flow through out to the table. Quicker baking time. 5,000 ton of nickel ( 200 m)
Arl with patent add 2,700 of nickel collected ( 100 m)
rare earths gold yet to be added ( maybe extra 100 m a year)
money at 4% instead of 7% ( 100 m at year saving )
tax credits on the 25% we choose to sell in Australia
30 million
there is an extra 530 million
by doing the deal
50% of 1.3 ebitda is 650 milion.
not far away from 800 million
fenced off other hubs as well.
market is asleep at present