Ann: Buckland Project - Native Title Agreement , page-7

re: Ann: Buckland Project - Native Title Agre... Great thread, just interesting to have something to discuss re: IOH rather than watching the hgrass grow.

I'm seeing a few pieces of a puzzle here, bear with me:

1. The annual report states that IOH aren't really in this business to become a miner. Keep that firmly in mind.

2. The AGM has a resolution to create additional new shares if required for a placement, up to 25% value of the company.

3. Pat mentions BCI, they did a deal & gave away 50% of their project to FMG in order to get a transport solution.

Something is cooking under the surface here (at least I hope so anyway) as the $400 mill capex to fund the truck & barge operation is a big ask for IOH and the opex of trucking 180km to port would make the project very risky IMHO.

Ideally I'm hoping they can divest Bungaroo and do exactly what BCI have done on that project whilst retaining 100% ownership of the other deposits.