Ann: SIMEC Commences Due Diligence on Havilah's Iron Ore Projects, page-49

It would appear that SIMEC (Mr Gupta) is satisfied with the Fe grades and low level of impurities from its test work on the Maldorky iron ore deposit, as SIMEC has now moved onto the next phase of its due diligence.

The above test work was undertaken on RC drill samples and drill core provided by HAV during June 2018:

"As part of the due diligence, Havilah has provided SIMEC with several tonnes of RC drill samples from the Maldorky and Grants deposits and drill core from the Maldorky deposit for metallurgical testing purposes"



Accordingly, should the Maldorky logistic due diligence work out satisfactorily with SIMEC (Mr Gupta), Havilah could begin selling to him top-grade (65%) iron ore feedstock from Maldorky to his Whyalla steelworks in the short-term, with potential from the much larger Grants iron ore deposit.

Mr Gupta has the political clout and existing infrastructure in place at Whyalla to make this happen:

* rail
* steelworks
* land
* power grid
* water supply
* workforce
* port facilities

Longer-term, there is of course the Grants Iron Ore Basin Fe potential.

What is attractive for SIMEC (Mr Gupta) about the Grants Iron Ore Basin is a potential Pilbara-size iron ore project

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