SWI can't agree that IOH will sell IV. This deal has probably...

SW

I can't agree that IOH will sell IV. This deal has probably been a time in the making and over that period the company has been busy recruiting staff with the apparent aim of moving to production.

Also it makes little sense for the company to sell if they can produce. They will sell for about $2/tonne and their margin if they can produce will be about $80/tonne. That is a huge difference when you multiply it by 160MT.

I don't believe that the company has exhausted its possibilities in finding rail and port solutions. I believe that IOH can find a JV partner to bring IV to production. FMG went 50/50 with BCI on a very small resource. Why would they not agree to such terms for IV, with the bonus that it will cost them less to develop their adjacent holding?

I also believe that the current buy back fits into this picture. I believe that the aim has been to increase the share price as it is a component of a share swap as part of the JV.

Whatever the outcome next week should be a good week!