Concern, page-5

"....it looks more likely a deal is being discussed before the deadline?"

From the quarterly released 27/02/2019:

"Discussions with respect to potential investment models and commercial terms for the potential development of the iron ore projects are ongoing"

Therefore we know they're in discussions, whether anything eventuates prior to the exclusivity period expiring, well, I don't know. As a long-term shareholder, I don't want them to do a deal for the sake of a deal. It needs to reflect reasonable value for shareholders. If they can't do a reasonable deal they should walk away.

At the end of the quarterly released 29/11/2013, they've attached "Maldorky Iron Ore Mine Information Sheet". There they outline a pretty reasonable plan for getting into production.

On another note, interesting article in the Whyalla News online: https://www.whyallanewsonline.com.au/story/5941483/push-for-iron-road-progress/

This caught my eye:

"This has included a reduced production target from 24 million tonnes per annum in iron concentrate to 12 million and replacing the planned heavy haulage rail with high capacity dual-powered road trains operating on a private haul road."

and

"Iron Road general manager Larry Ingle said having a haul road meant the company would not have the capital outlay required to build a rail line.

He said Iron Road would make a net saving of $600 million."

The railway near HAV's deposits may well be the ace up the sleeve.