Ann: MGU Green Iron production strategy for development & growth, page-52

In fact there is no real mention about the 68% IO in this announcement. They now only seem to want to focus on the hi smelt. No clear indication about where they are going to get the funds from apart from mention they will work with Anglo, the same Anglo who seem to have pulled their 8Mil prepayment at the first sign of a retraction in the IO price?? And thereby nearly sinking this company??

Scrapping the DSO stage at this point in time seems like a complete over reaction. IO prices are still very healthy and I wouldn't at all be surprised to see the price not only stabilizing but possibly even move back up again later this year once the covid delta lockdowns are over.

That is unless they have a solid offer on the table to fully fund the hi smelt. In that case I can understand this course of action.