The ore deal affecting the wharf at Port Lincoln involves the...

The ore deal affecting the wharf at Port Lincoln involves the hematite mine at Wilgerup. The two Chinese companies negotiating the hematite deal are not related to the Magnetite mines deal with Wuhan (aka WISCO).

The Wilgerup hematite mine exporting out of Port Lincoln would produce some cashflow for 5-7 years. But the company maker is the magnetite ore in the Bungalow area and this will be exported from the new deepwater port at Sheep Hill. There is no negative local sentiment from the Sheep Hill area about a new port. Or none that I have heard of.

If/when the Foreign Investment Review Board (“FIRB”) and the National Development Reform Commission (“NDRC”) approve the magnetite deal, we will see a flurry of activity, especially drilling.