iron valley numbers - more detailed attempt., page-7

Hi Superwealthy,

You've said the co. has confirmed that royalties are on a sliding scale corresponding with Fe prices. I'm not doubting you but the detail around this - specifically what % royalty at what Fe price - is crucial to valuing the deal and hugely material to the SP. If this has been specified in the MOU then IOH have an obligation under their continous disclosure obligations to release the details to the market. I'm disappointed that management haven't taken the initiative and done the right thing - I wonder whether a please explain request from ASX is going to be necessary..

That said a 5% royalty on Fe >100/t would indeed be company making for IOH. Lets hope FMG are as keen to fast track mining as we all are.