Some time back we were referred to as a mining junior with...

Some time back we were referred to as a mining junior with stranded assets.

We also had not at that point proved up our ore to reserve status.

We've proved up our ore but still remain stranded.

Interestingly we have sold some of our better smaller reserves for cash rather than do some mining practice. Actually get into mining. So any valuation to date is likely to lean towards finding and selling deposits which is quicker but not long term when so many of the big deposits are locked up.

IOH have two options, Iron Valley and Bungaroo South. I think the market and holders are looking for a firm commitment to dig ore at both sites. That doesn't mean the FMG deal must go ahead. The mentioned plan B of mining and trucking to another's gate would be my preference for IV. Bungaroo South requires some firmness around financing, partners and delivery mechanisms. I would have thought a buyer would be the best starting point as that would Shaw up the other components but then I'm no miner. I'm also keen to see a simpler model at BS where we agree a gate sale with one of the nearby operations. Much less risk in my view.

So for me the desired catalysts will be IOH to 100% confirm they will be mining both IV and BS.

Too much talk since the failing of RIO gate sale.

Oh yes, without AQA please.