Reply to PS: INTERESTING POSTS... and Spekulator
Good on you PS for your very interesting post, everyone respects what you write,and your well presented comments.
Re: POTENTIAL PORTS... So far I believe Utah Point at Port Hedland will be Red Hawk’s first opportunity to export perhaps up to 3mtpa for a few years until another closer port is available. I think it was mentioned that for every extra 100km travelled cost RHK an extra $10.00 US a tonne. So the closer the better, and we all agree on that.
THE PROPOSED PORT OF BALLA BALLA: In my opinion, we can’t rule out our majority shareholder’s proposed port of Balla Balla, if Whim Creek is used to stockpile ore allowing the trucks coming from the mine site to return back to the mine site in one shift... however Spek’s post on HC saying... (below)
Re: Spekulator, BBI is a dead duck, completely enveloped with ~ $95M of debt. They are not a threat to anyone except any of their creditors!
HaHa!! Yes Spek I have heard that, but BBI’s parent company is still a big multinational private company, so who knows what plans they have up their sleeve. It is also good to hear your thoughts on the management team. We do need quality people to get this project off the ground, also your positive position with our second biggest RHK shareholder OCJ, is what we need to hear to be reassured.
BBI’s WA APPROVALS: I believe that Red Hawk Mining’s majority shareholder’s private company BBI has WA Government approval to expand their proposed port of Balla Balla and their ore stockpile area on their lease near Whim Creek.
BBI’s WA RAIL AGREEMENT: We have been told that BBI’s WA Rail Agreement is stopped. However as yet I believe the WA Government hasn’t taken that legislation back to Parliament to cancel that agreement. We have to monitor that to see what happens next.
CHANGE OF CONTROL EVENT: No one thought about a “Change of Control Event” until the 2023 Red Hawk Mining AGM. They had so much detail explaining many situations on how it would work, together with what I believe was an outrageous number of Performance / Incentive and Bonus shares to be given out. With those shares vesting on their performance conditions or a “Change of Control Event”... In my opinion, Good if you can get it.However firstly in my opinion, there has to be real progress mining and shipping our high grade iron ore, along with a real lift in Red Hawk Mining’s share price.
NOTE: IS RED HAWK MINING STILL VIABLE: Given this devastating news in the West Australian (2nd April 2024)
Red Hawk Mining’s high grade ore direct shipping costed on US$89.00 hopefully will make the difference... but look around at another iron ore mine...
NEWS JUST IN: “Wiluna West iron ore mine facing closure amid price pinch, dragging nearly 200 jobs into the firing line”“An iron ore price dwelling beneath $US100 per tonne would likely lead a WA mine owner to switch off his recently purchased operation in the State’s Mid West, unless the government lends a helping hand”.
THE RED HAWK BOARD: Let’s hope our Board bring forward the Quarterly and the PFS very soon to let all of us know the real situation they face, and the confidence they have bringing our high grade product to market, given that Red Hawk Mining has just had another CR.
