Ann: MGU Webinar announcement - October 19 at 4pm AEST, page-13

yep, they're also the ones he's had a long relationship with, the Nucor plant being built next to Appalachian iron project could mean that it could come online a lot earlier than BV and theyre just using waste products, so no mining application needed, much shorter timeframe and approvals needed than BV.

the Set up now makes a lot more sense to have BV & WV both helping each other in many ways, Ie the need for iron for one and need for waste products for the other, and also if one gets off the ground it gives a foot in the door for the other to progress, also means if waste product runs low, ore can be transported to WV, and visa versa with waste product to improve production output, or stabilise feed product.

1.3mtpa is the optimal if running off just waste product, I have yet to see HISMELT obtain these numbers, so the latter number mixed feed tpa sounds more reasonable at 1Mtpa.

I still think a modest number of 800,000 tpa is more around the number the projects would fall

all of the data is running off molong current project at 800,000 is achievable.

1mtpa from both BV And WV would have a current revenue at todays pig iron pricing of

$1B-$2Bper annum revenue ranging from $500-$1000pt

one would suspect the 600-700 would be the settling range, but macro environment may make this number much higher in 2026 due to higher demand and still weakening supply from two of the main producers as the war drrraaaggsss on and supply has been directly targeted in some attacks.

long way to get to production, but it is good to hear the confirmation of BIO Pci being a product that can be sold as early revenue before planned builds take place, I would consider the PCI modular reactor to be of a much smaller CAPEX than the HISMELT plant.

excited now to see how things eventuate with Appalachian, be good to have an Ann outlining the current agreements in place.