"....Walter should walk!"
I hope they're working on a Plan B should these negotiations fail, because if they're not, I suspect a lot of shareholders will be walking too.
The question, if not HAV, then who, is a good one remembering that the GFG Alliance is a company that has heavily tied itself to SA and is pretty good at getting as much Govt assistance as possible.
Just this week:
"The innovative $480 million Middleback Ranges Pumped Hydro Generation Project being developed by SIMEC Energy Australia and SIMEC Mining has been shortlisted for future funding from the federal government."
https://www.whyallanewsonline.com.au/story/5978252/hydro-project-shortlisted/?cs=1550
Also worth revisiting some comments from South Australian Premier from the Big Reveal.
"Just last week, the SIMEC Mining team announced that an exploration campaign GFG helped fund has identified a significant iron ore basin in the Mid-North.
I understand a 13-hole drilling program conducted by Havilah Resources with the support of SIMEC Mining successfully intersected a consistently thick iron formation in multiple drill holes in an area covering at least 3.5 square kilometres."
&
"The Government looks forward to further good news as you work with Havilah Resources to better understand the Grants and Maldorky prospects."
&
"The South Australian Government has committed to provide $50 million to support the future sustainability of the Whyalla steelworks, subject to due diligence on its business case.
Funding preconditions include local industry participation and the development of an open access Whyalla port.
That $50 million in funding remains locked in the State budget."
&
"We continue to pursue a strategy to support the development of the State’s magnetite assets."
&
"GFG continues to enjoy a royalty-free status for magnetite sourced from South Australia’s Middleback Ranges and fed into the steelworks."
Source: https://premier.sa.gov.au/news/big-reveal-whyalla
My understanding is that new mines approved will still enjoy a royalty holiday but they need to get a move on.
That open-access port is also a big one. If they can't get a reasonable deal, Plan B should be to thank GFG & move on and develop these assets independently. 1Mtpa operation increasing to 2Mtpa is doable. They've said it themselves.
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