I think you're on the money Orewealth.If RIO are in the mood for...

I think you're on the money Orewealth.

If RIO are in the mood for a small partner then this on the surface is definitely our best choice.

We now have two sites that can be mined separately to our physical partners (AQA @ BS & FMG @ IV). We have proximity in both cases.

The plan for BS 4Mts per year for the first 2 years then ramp to 8MTs going forward. RIO's is about to begin delivering water to the town/port from their nearby site and plenty of it thus reducing the water table. The water table at BS will be affected by this allowing more ore to be taken from above our water table. RIO have infrastructure in place, an ageing mine and a client that wants ore, so it's my belief they will be watching closely if not already talking. I think rail is about 41mil/km so much cheaper that the road/barge option. Or we go alone with the haul road.

IV on the other hand was really for FMG to refuse given the ore body structure. I think once that became known RIO and others would have stepped back. Of course as we all know that's history now.
So, were open to a 5MT operation over 25 years mine life with clean hands. We've struck a deal with RIO here in the past so why not again.

The great part is we will be mine ready on both sites and all completed by the IOH team.

all just thinking out loud of course.