Ann: NCZ GRANTED EXCLUSIVITY FOR POTENTIAL ACQUISITION OF GORO, page-18

In a nutshell

• Deal not done but agree with kemj, most likely will be
• MQG to finance, Vale keeps the debt
• NCZ to continue Vale's plan of only refining Limonite and decommissioning the Saprolite refinery which is where the mega wealth lies if they could get it right.
• Limonite only processing is too small of an operation for Vale which is why they are selling
• Sell Saprolite ore to refineries which do work efficiently once the bill has been passed by the local congress. Vale had to refine on site and could not export
• Sell the MHP (final product) to IGO and others
• Pray for the EV market to take off

Simple really. Apparently