I think that there is certainly lots to like in this...

I think that there is certainly lots to like in this announcement.

A few of the things that I particularly like:

• Seven national and international strategic investors selected to undertake due diligence. Unlikely that Hawsons will want seven strategic investors, so therefore some potential for competition to secure some limited global supply of high grade iron ore suitable to making green steel with known technologies - and Hawsons Supergrade at close to 70% also very rare so could add to the competitiveness between strategic partners.
• Rail to an existing port - whilst I understand the lower operating costs of a slurry pipeline, to me the slurry pipeline also increased the risk of getting the product to market. More than happy with using existing rail to an existing port - it means lower capital costs and lower construction risk.
• The announcement reminds us of the relatively low risk of this project - known resource being mined in large open pit, processed using proven techniques, access to existing water and power (including green options) and sent to market via existing rail and port. Add that to political stability, no native title and a product that will be in increasing demand. A lot of the usual risks of getting a mine up and running are not there.

Whilst I might have preferred to have a few numbers to play with the economics, I assume that will be in the 350 page Information Memorandum for strategic partners.