Ann: Exclusivity Period to Study the Belinga Iron Ore Project, page-26

Given that Simandou is in Guinea which has recently experienced a military coup & will no doubt cause continued headaches for RIO & even the Chinese, then it could be fortunate that Twiggy's bid for some action there failed.

G.a.b.o.n's neighbour's - Cameroon & ROC also have significant Iron Ore deposits but they are now firmly in the hands of Chinese interests after having been stripped from Sundance & another Aussie junior, Equatorial Resources

https://www.news.com.au/finance/business/mining/chinalinked-austsino-strips-african-iron-ore-project-from-australia/news-story/1df636935175e873462feca2003600b7

So if FMG is going to participate in high-grade iron ore in Africa, then **on makes sense - it is a high income, stable & pro-mining sub-saharan country with strong links to France who have operated a significant Manganese mine there for 60 years

https://www.eramet.com/en/group/subsidiaries/comilog

High-grade iron ore it is - 64% to 65% Fe in the oxide portion of the Belinga deposit.

https://www.mining-journal.com/company-profiles/partner-content/1172185/strength-ground

For further info/reference on **on iron ore, there is an Aussie junior that has been there for years & currently at the PFS stage (ASX GEN).