Ann: SIMEC Exclusivity Extended on Iron Ore Projects, page-19

"Gupta knows how important HAV's Fe assets are to floating the Whyalla Steelworks"

If you assume the Grants Iron Basin ('GIB') has a minimum of 3 billion tonnes of iron ore resource, based on the existing Grants project estimated yield of 33%, that is potentially 990 million tonnes of Fe concentrate.

Either exported or used in the Whyalla steelworks, at 12 Mtpa based on the above estimates that is Fe concentrate for potentially 83 years.

Let's assume 9 billion tonnes of iron ore resource at GIB (or 60% of StockAnalysis' 15 billion tonnes - see Tweet below), based on the existing Grants project estimated yield of 33%, that is potentially 2.97 billion tonnes of Fe concentrate.

That would equate to potentially 250 years of Fe concentrate at 12 Mtpa.

Imagine that in an IPO Prospectus.



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.