Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-117

Value for GFG/SIMEC Mining is dependent on vertical integration.

I had previously covered FMG's Iron Bridge MAGNETITE project key points in my 3 April 2019 Post # 37977547

FMG's Iron Bridge magnetite project in Western Australia:

“The Iron Bridge Project holds Australia’s largest JORC compliant magnetite resourcesupporting a long mine life."

"Annual production of 22 million wet metric tonnes per annum (wmtpa) once full operational capacity is achieved (equivalent to 20 million dry metric tonnes per annum (dmtpa))."

"Delivers 22 wmtpa high grade 67% Fe magnetite concentrate product by mid 2022."

"JORC mineral resource of 5.45 billion tonnes of iron ore."

"JORC ore reserves 716 million tonnes of iron ore."

"The pilot plant verified the wet magnetite processing flowsheet in close collaboration with key equipment manufacturers. The demonstration plant proved the metallurgical and cost benefits of early waste rejection by using full scale dry processing equipment commonly seen in other industries."

"The innovative design, including the use of a dry crushing and grinding circuit, will deliver an industry-leading energy efficient operation with globally competitive capital intensity and operating costs.”

https://www.asx.com.au/asxpdf/20190402/pdf/443zfvndlkg265.pdf

https://www.asx.com.au/asxpdf/20190402/pdf/443zd65lwh4blz.pdf

Petra Capital's 11 April 2019 HAV research report (see Post #38112682 ) did make mention that "Grants is a large iron ore deposit close to existing infrastructure with an exploration target of 3.5-3.8 Bt at 24%-28% Fe. It has some similarities to FMG's recently approved Iron Bridge project in WA."

Cheers

These are only my random thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.