If Formosa forked out $1.5 billion to FMG for a 30% stake of a magneitite deposit and use of FMG port allocations+ offtake, then dont be surprised if a Chinese group strike a JV deal with IOH for maitland river.
If I remember correctly the Chinese have been studying the maitland ore samples. Big hint?
Our partner may fund the development of the project, the capex is low cost, maitland hugs the coast and close to water and power. Barging to transshipment facilitate negates the need for an IO port.
For a 50% stake sale, we should get at least a couple of hundreds of millions I reckon.
IOH Price at posting:
94.0¢ Sentiment: Buy Disclosure: Held
