Some further intersting comments re Bungaroo from the 20/2...

Some further intersting comments re Bungaroo from the 20/2 Fosters report on the IOH website. (target price $3.00, Bungaroo value $388m on an unrisked basis)

As stated previously by various posters in light of our recent production focused new hires, Fosters state that IOH have indicated they are looking at options involving taking Bungaroo into production with a JV - eg cornerstone or off-take investor/buyer. IOH being cashed up by the satellite sales and the IV deal gives them the options.

As SuperWealthy has stated we dont want to be waiting years for a solution to come through on Bungaroo but current mangement has a great record of getting deals done. Lets get the Feasability studies done asap.

From the report:
? The Bungaroo South deposit holds strategic value, as it is adjacent to the API JV’s Buckland Hills deposit and a contiguous ore body across the adjoining tenements, similar to that of Iron Valley with FMG.
? Given the integrated nature of the deposit it is considered that a co-development opportunity with API is the logical path to production with the location of the deposit 50 km from the proposed API JV’s planned rail infrastructure to Anketell port. However, IOH have
indicated that other commercial options are being reviewed with potential cornerstone and/or off-take partners to assist with the completion of a full feasibility study and
development funding.
? We view Bungaroo South as having a greater likelihood of independent development given the API rail and Anketell port development can provide a path to market given the open access framework, unlike the rail and port options in the Central Pilbara.