"I'm tipping SIMEC could be mining iron ore from Maldorky and...

"I'm tipping SIMEC could be mining iron ore from Maldorky and Grants before Kalkaroo BFS is completed and any PFS for Mutooroo is completed!"

There is no doubt Mr Market has not appreciated the potential upside to HAV shareholders that SIMEC/ Gupta is capable of delivering.

I have said it before, Mr Gupta is running down his magnetite resources in South Australia and has less than 10 years supply to his steelworks in Whyalla. This is demonstrated via the Middleback 2017 compliance report re: estimated mining lives

- Iron Chieftain 2.5 years
- Iron Knight (South) 2 years
- Iron Duchess (North) 5 years
- Iron Duke/ Magnet 10 years (until 2027)

Note: operations above include both hematite and magnetite.

https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/samref/sarig1/image/DDD/MCR3859646.pdf

SIMEC's two new mining leases for Iron Sultan and Iron Warrior mines in the Middleback Ranges appear to be both hematite not magnetite.

http://minerals.statedevelopment.sa...ning_leases_to_support_whyalla_transformation

There will be < 5 years supply of magnetite if Mr Gupta continues to expand his Whyalla steelworks production from 2 Mtpa, to his goal of 10 Mtpa.

SIMEC is currently only undertaking Fe due diligence on Havilah's Maldorky and Grants iron ore projects.

Maldorky and Grants can provide Mr Gupta's Whyalla Steelworks with high-grade (and low impurity) iron ore for the next 20+ years.

But what Mr Gupta really needs is supply of high-grade (Fe 65% concentrate and low impurity) iron ore for 100+ years. That is why he is undertaking drilling on the Grants Iron Ore Basin.

What is attractive for him about the Grants Iron Ore Basin is a potential Pilbara-size iron ore project.

Previously, Havilah has stated it planned to carry out reconnaissance drilling in the future to determine the regional extent of the basin and the thicknesses and grades of iron ore across it.

Initial results from limited HAV drilling of the Grants resource at the very western tip of the Grants Iron Ore Basin was considered to be promising for discovery of an extremely large resource, which conceivably could host areas of higher grade iron mineralisation where the sedimentary depositional conditions were particularly favourable.

Dr Giles said at the 2017 AGM that Grants "could be the biggest iron ore deposit in Australia."

Cheers

These are only my random thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.

HAV fanboy: still drinking the Kool-Aid