Magnetotelluric: Curnamona Province, page-14

The following article on the least 'on trend' of HAV's metals inventory piqued my interest:

Iron ore price gap here to stay: Mt Gibson - The Australian, 14/2/18 [Paywall]

"Mt Gibson Iron has become the latest iron ore producer to describe the wide price gap between high and low-grade iron ores as a permanent structural shift, leaving Fortescue Metals Group increasingly isolated in its view that the market is turning... "

Benchmark 62% Fe was US$77.36 a tonne overnight.

FMG's iron ore realises on average 77% of the average benchmark price for the top grade.

HAV - Iron ore resource inventory >450 million tonnes which can yield approximately 160 million tonnes of premium >63% Fe product. [> A$15.7billion in-situ value]. Plus exploration upside.

Mr Forrest, Why not buy-out HAV?

- Its tenements are in the neighbouring state of South Australia
- Higher grade Fe that FMG can blend with its lower grade product
- Diversification into blue, red and yellow metals
- Exploration upside: Jupiter MT, Grants Iron Basin etc
- Use FMG's expertise and balance sheet to bring HAV's in situ resources out of situ
- Act now if you want FMG to have 100% of Kalkaroo, while suitor Wanbao is taking in the Chinese New Year.

You could start talking to the 2 HAV founders.

Of course, you need to pay more than the current share price. Start the ball rolling at $3ps [$719m fully diluted]. Arguably, Kalkaroo alone is worth that! In theory, FMG gets everything else for free.

DYOR