Ann: Farm-In & JV Agreement and Cooperation on Ophthalmia Project, page-64

Thanks Sabine. They were the heady optimistic days of the North West Iron Ore Alliance. The years have passed quickly and I still remember how in the 2009-10 period Brockman wanted to bring the mine into operation quickly to make the most of the high iron ore prices. Fast forward another decade and a bit and they're hoping to make the most of elevated iron ore price although who knows what it will be in 4 years. I remember when I first bought into Yilgarn (original name prior to changing to Brockman) in 2006, someone had written on one of the discussions that it normally takes 20 years for a mine to come into operation. Back then, I didn't think there was any chance of the mine taking that long to come on stream, but 15 years later, here we are. I definitely wouldn't have invested if I knew that it would be 20 years, but once the stock virtually became illiquid after the Wah Nam takeover, there was little choice but to hold. I'm now working on first qtr 2022 before any decision made about Pt Hedland, but am pleased that at least there appears to be a Plan B.