Ann: Quarterly Activities and Cashflow Report, page-9

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jake0002

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26/01/24

08:26

Post #: 72076303
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Originally posted by PS ↑

Quarterly key takeaways

All in all a good positive quarterly update showing good progress towards the PFS and ultimately a viable Road Haulage project (if not taken out before we get there).

The negatives are funding (which I think that we all thought was only sufficient to get to PFS) and, the PFS has moved from Q1 2024 and is now slated as early Q2. So some slippage here. Maybe no big deal but RH needs to get to production ASAP to capitalise on the forecast high iron ore prices.

If I was to be picky I also don’t understand why RH don’t comment on what the ROI would be at current iron ore prices particularly when they will need to raise capital. The current IO price is about US$135/t which is US$46 (AUD $70/t) above the long term Platts forecast of US$89/t used in the Scoping Study!

There isn’t much that we didn’t already know but are some important positives namely this paragraph -

“The haulage and export strategy is being further refined and advanced as part of the PFS which commenced immediately after the Scoping Study was finalised. In addition to optimising the road haulage strategies, options will be considered to potentially increase export capacity to enhance utilisation of the Blacksmith resources.”

Note also. “Red Hawk has strategically maintained tenures, access agreements, permits and approvals…………”

I am still speculating that we’ll see an upgrade to the annual tonnage in the PFS.

On a final note. It is good to see the Quarterly issued early. Maybe a sign that they wanted out of the way ASAP to provide a clear path to PFS.

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HAPPY AUSTRALIA DAY to the 26 million Unrepresented Australians who are happy and proud to live in Australia. !!!

This extract from article in AFR today, re sale by MIN of its shares in Azure to Gina and SQM.

Has the comments re haul road or Port any relevance to RHK's plans?

RHK Price at posting: 59.5¢ Sentiment: None Disclosure: Held
11 Upvote

2 Great analysis

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