Reads very very well IMO. Its terrific to see the company...

Reads very very well IMO. Its terrific to see the company focused on executing its business plan step by step

Some snippets which I found interesting:

The next advantage of Agbaja is the sheer size of the existing deposit and the potential to grow this rapidly. We currently have a JORC Mineral Resource of 586 million tonnes, but we have only drilled around 19% of the deposit within Exploration Licence EL12124 which is one of 17 Exploration Licences that we hold in Nigeria. Our Exploration Target across all of our Exploration Licences is currently around 3 billion tonnes.

******* Good to have a reminder that its ony 19% of the lease and its one of 17 leases!!


The main disadvantages are the elevated phosphorous and alumina levels of the finished product, but as I’ve explained we have allowed discounts for those impurities in our pricing assumptions. There is interest for the product today.

***** Interest in the product today is great to hear so soon after the PFS has been announced

There are several iron ore deposits in West Africa with potential for early development because of their quality and location close to transport infrastructure. These projects will tend to have lower capital cost intensity and lower operating costs on a world-wide comparison. There is a lot of interest from customers, particularly from China, for West African iron ore.

********* Once again a comment about a lot of interest from various parties

Our main focus is to complete the DFS and as part of that process we will be talking to various potential partners including potential off take partners.

********** I like the strategy to talk to offtake partners about helping to fund the next steps.


All good from where I sit