Ann: Mineral Resource Upgrade, page-302

Wow. I thought you would come up with some concrete numbers and mathematical analysis to show me how a 20mtpa wont work but your reply was...disappointing to me.

I can pick out 3 or 4 points from your reply to counter your arguments but I don't think I want to bother.

Slurry pipeline will be fully funded by a 3rd party, just like the construction and operation of Myponie Point port is going to be funded by Flinder Port.

Even an energy solar farm is also likely to be funded by a 3rd party for usage fee I believe.


All-in-cost per ton was USD $48/ton. Add a 25% on top of that to allow for inflation over the last 5 years since the PFS 2017 was done. Then add the efficiency gains from 10mtpa to now 20mtpa (there must be cost reduction by doubling production), plus huge operational cost savings by the slurry pipeline (could be around $8-$10 savings per ton).


By backing MGT with 3mtpa, using your same logics, then HIO should go to 1mtpa? Does not make any sense at all to me.

I like MGT's huge resource but in terms of what are being executed by managemt team I believe HIO is far ahead to production given they have engaged Flinder Port to take care of the Myponie port, 3rd party to take care of the slurry pipeline, option locked in to purchase 3 parcels of land at the port, key personels hired, 8 different specialists to take care of EIS, mine design and engineering,...