Ann: HoA for exporting 500,000tpa of magnesite, page-24

Some detailed number crunching was dome some years ago on the Winchester resource in terms of various output levels as I recall. Its a very profitable project, even if less than 500k tpa, and given the recent magnesite global price which has increased significantly (double?) this past few years. So the project is very viable, the problem has been finding an offtake partner. The Chinese steel-mill consortium came on the scene a while back, all looked good, Wang as a middleman took up some of the placement offered , but then things went quiet. The only info we ever get from KOR is that "documentation is progressing" with the Chinese. ( read "how long is a piece of string"). Maybe something now is happening, I mean why go the trouble now of getting a HoA with Darwin Ports for 500k tpa if the magnesite deal is not going to happen. I'm slowly warming to the view that something may be brewing, and KOR is getting its ducks in a row. After all, no point having a deal if the capacity contraints at Darwin port can't handle the volume. Obviously, the logistics needed to have some certainty behind it before finalizing the magnesite deal. So I am now somewhat hopeful this thing will have legs. If it gets up, we are looking at a multibagger share price from the current level. Patience is everything with this company as we LT holders know all too well. But on a risk/reward scenario its worthy of a punt.