I've been having a bit of a look at possible comparable projects...

I've been having a bit of a look at possible comparable projects to what we may have at Hammersley.

I've found RHK & their potential Pilbara project. They've done quite a bit of work with a PFS recently released that might provide indicators re what a project CAPEX/OPEX might look like for EQN.... RHK showing OPEX $51p/t LOM, CAPEX $217m for a 5mtpa operation once ramped up.

OPEX for EQN would be a little higher if the option is taken to upgrade the product to 61-62%Fe.

Has anyone found other comparables in the region? IMO should be looking for non-majors that will be required to use trucks for haulage.

Assuming Section 18 approval, IMO it's likely Hammersley is sold at some point. Still important to show the project would be profitable, and EQN able to move to producer, to ensure higher bids from suitors.

Cheers!