iron valley numbers - more detailed attempt., page-6

Nice posts all. Upside is clearly there from current SP levels even if the market doesnt recognise it.

Just in relation to the time based royalty issue, Ocean Equities wrote that they thought "take or pay" structures would be implemented to ensure the deposit isnt warehoused, rather than time based royatly rates.

"We would expect that the agreement between IOH and FMG
in effect reflects a ‘take-or-pay’ structure, with minimum production levels and a fixed starting date, which safeguards IOH shareholders to ensure that the deposit is not ‘warehoused’."

In any case no one expects FMG to sit on the IV.