Ann: Grants Iron Ore Basin Discovery Confirmed, page-37

You may be right. Only started looking at GRR in any detail today. As a HAV shareholder, GRR's cash balance immediately grabbed my attention.

Since posting earlier today, read up some more on the Southdown Project #:

- NPV at a discount rate of 10%,of A$1,008 million (GRR 70% share: A$706M)
- Initial capital expenditure is estimated at A$2.885 billion

- NPV for the 28-year plan is estimated at $753 million  (GRR 70% share: A$527M)
- reductions in capital spend from ~A$2.9B down to ~A$1.4B

The NPV figures are lower than the ISV used in my rough calculations earlier today, so would bring GRR and HAV closer in proportional terms.

From Dec 2018 quarterly: The process of seeking a strategic investor(s) for the project is ongoing.

Presumably, the capex requirement is a key consideration for investors.

Even if the GRR funds are set aside for Southdown, there could be similar cashed-up companies with comparable resources to HAV and therefore make suitable merger candidates. That's for HAV's leadership to assess.

DYOR

# Source: Post #: 31289182