Great reading particularly the Woodmac article.Thanks for...

Great reading particularly the Woodmac article.

Thanks for posting.

Magnum's targeted product of green pig iron has so many fundamental positives and is a valuable asset to US Steel makers. Local supply will help to insulate them from external shocks such as the Ukraine war. In fact the increase in production of green steel in the USA is being driven by Governments, steel producers and consumers.

It is my understanding that there is substantial funding from US Government authorities, available for Green projects such as Magnum's.

In addition the USA has a lot of ESG money looking to find a home. I note Neil said that he had met many investors from the ESG sector who were surprised that the project could also make a good return on investment.

Hopefully Neil's trip in January will lead to some agreements and announcements on funding intent.

This should help build credibility.

In relation to projects and sites I understand as follows from listening to the webinar.

They were looking at mines in the area, which previous management had also done. It is my understanding that there are a number of local resources that could be added to the resource base.

This could be because potential investors are looking for a resource base of 350-500 million tonnes to underwrite their investment risk.

This is probably why they were talking about additional resource drilling at Buena Vista when they already have 230 million tonnes and lots of potential. I take this belief from previous presentations and announcements on high priority targets, which had also been identifed in previous feasibility studies.

In relation to various sites I had the following take from this and his previous webinar. The biggest ticket item is the Hismelt Plant in comparison to building a dry crushing plant to produce a 60+%Fe magnetite concentrate.

Therefore I am assuming that it may be better to build your expensive Hismelt plant and biochar power facility somewhere with good logistics and access to water requirements and where a high quality team to run the plant, are happy to live. It may be better to rail the Buena Vista ore to a plant and if was central, potentially Appalachian material as well.

He also he said that a site will be influenced by certain investor preferences and who steps up with a proposal.

He said that all the sites had their pros and cons and different investor interest.

It sounded like their are a few balls are up in the air, and we seem to be in a position to be flexible as to how we proceed depending on who funds the project.

Lets hope these guys can tap into the huge US funding that we know are there for green products and infrastructure in general.

The Yanks love to fund their own projects so this may be the best approach because currently someone is definitely not interested from the trading recently in Australia.

Some US interest interest and investment might create interest here hopefully.