Hi Hensabens, yes FMG will do due diligence on Belinga Iron Ore over the next 12 months or so & will incorporate 'green energy' / hydrogen into the project.
G.a.b.o.n's 64 - 65% Fe iron ore is consistent with FMG's ongoing strategy to produce higher grade ore such as the Iron Bridge Magnetite project in Australia. Twiggy tried to get in on Simandou in Guinea with a plan to export through Liberia thus reducing railway Capex etc... His bid failed, so **on's Belinga appears to be the next best project in terms of grade & tonnage. Considering the unstable political situation in Guinea (recent coup) & the fact that G.a.b.o.n.s neighbours - Cameroon & ROC have handed their iron ore projects over to Chinese interests (see below) then a stable country like G.a.b.o.n makes sense for FMG.
GEN will be in production well before any FMG development as they will have to build a new railway & a deep-water port but if they decide to proceed it will really put G.a.b.o.n on the Iron Ore map & can only reflect positively on GEN's more advanced project.
Huge volume & price lift today - I'm not sure if this a delayed reaction to yesterday's off-take MOU news or expectation of a new pending announcement?
I am looking forward to news on the rail spur from Baniaka to the Trans-g.a.b.o.n railway at Franceville plus rail/port agreement - an essential part of the PFS!
GEN Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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