Ann: Proposed Divestment of Paulsens East Iron Ore Project., page-83

Well, mgmt clearly prioritised LEL last year which given SRK's holding looked a lot better when LEL so was north of $1. like I've said, probably let CZR run Ashburton and sat back, but you're right little engagement with IO slowly rebounding.

In terms of Peru, they've already made two shipments, don't think trucking is the issue. Doubt GII offtake inc capex was advantageous, and wore the shipping costs on the first load which was held up during covid in Chinese port incurring significant demurrage costs. FOB on second shipment appeared to go smoother but no follow up. You'd think they'd have a good handle on costs if restarted but you never know with this lot. The railway is a fantasy. Pro them selling Peru but they just gave away 20% for peanuts so doubt they'd realise much.