Mr Gupta's Fe needs can be met by HAV, page-40

Who said anything about competing with the Pilbara?

All HAV Management should be focused on is selling Fe concentrate from Grants, Maldorky, Grants Iron Ore Basin (and if needed, Lilydale ) to SIMEC (Mr Gupta).

SIMEC really needs to lock in magnetite feedstock for the Whyalla steelworks in the short-term before it commits big licks of CAPEX, in that we should all be able to agree.

Best case scenario, rather than a NSR (royalty and back costs), would be SIMEC (Mr Gupta) finances and is the JV Operator of the iron ore development.

Quid pro quo, for HAV providing the iron ore JORC resources to the JV, SIMEC (Mr Gupta) funds and is responsible for all appraisal and development drilling, for building the benefication plant and providing the rolling stock to transport the Fe concentrate to Whyalla etc etc.

Mr Gupta's first need is for a reliable and long-term supply of >61% Fe concentrate with low impurities (which, based just on the existing HAV iron ore JORC resource, we already HAVe for the medium-term ~20 years) for his Whyalla steelwork's blast furnaces.

IF Mr Gupta believes there is surplus Fe to sell into overseas markets, that will be his call not Havilah. He currently sells surplus hematite from his SA mines overseas, so he has the marketing and logistics already in place.

Remember, SIMEC is only undertaking due diligence on HAV's Maldorky and Grants magnetite (iron ore) JORC resources. It is not currently looking at anyone else that I know about:



HAV Management's aim should be to maximise the 'fair value' of iron ore at Grants, Maldorky, Lilydale and the Grants Iron Ore Basin for shareholders.

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.

HAV fanboy: still drinking the Kool-Aid