The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
https://www.lse.co.uk/rns/ufo/agreement-for-potential-han****-project-finance-ar67cfmyah98a0u.html
aa still have exclusive rights. if anything changed, company has to let you know via an rns.
personally i'd prefer that to be terminated and a deal struck with minres.
The Terms:
a. In the event of a Tenement Sale: 50% of the value uplift attributable to the Projects;
b. In the event of an IPO/Spin-out event on a recognised stock exchange: 50% of the value uplift attributable to the Projects; or
c. In the event a decision to mine is made: 50% of the project valuation uplift attributable to the Projects.
In each case, the uplift payments are reduced by 50% of the incurred project expenditure.
As part of the transaction Alien has agreed to transfer its interest in the Projects to IOCA who will become the manager of the Projects.
I still think IOCA will be spun out on the ASX. This would maximise the 'Value Uplift' that Windfield would get.
troy whittaker said:
"the provision of the dfs in the coming months will see the han**** project positioned to swiftly move through and conclude the funding and offtake requirements that will lead to the company's final investment decision in the latter part of this year as the final regulatory approvals process continues to progress."
soon we see:
mre update
dfs
knac approval/mining approval
fid
I posted this a while ago. These are announcements from Fenix (our closest peer) on their way to starting up Mining.
13 Aug 2020 Fenix secures approval for Iron Ridge Mining Proposal, paving way for first shipment early next year
https://www.investi.com.au/api/announcements/fex/a2db4454-5e2.pdf
18 Aug 2020 Fenix Executes Mining Co-operation and Benefits Agreement with Native Title Group
https://www.investi.com.au/api/announcements/fex/a117914b-9d5.pdf
31 Aug 2020 Marketing Agent for 50% of Iron Ridge Production Secured
https://www.investi.com.au/api/announcements/fex/fa84a7ff-15e.pdf
07 Sep 2020 Positive Final Investment Decision on Iron Ridge Development
https://www.investi.com.au/api/announcements/fex/6985cfa3-027.pdf
15 Sep 2020 Key Mining Approvals Granted for Iron Ridge Project
https://www.investi.com.au/api/announcements/fex/0788be0a-2cc.pdf
21 Sep 2020 Iron Ridge Project Site Works Commence
https://www.investi.com.au/api/announcements/fex/c1beee04-3a5.pdf
14 Oct 2020 Fenix Executes Binding Offtake Terms Sheet with Sinosteel
https://www.investi.com.au/api/announcements/fex/d9d8310b-3e6.pdf
14 Oct 2020 Fenix Purchases Geraldton Port Infrastructure
https://www.investi.com.au/api/announcements/fex/aa0d7c27-968.pdf
19 Oct 2020 MACA LIMITED APPOINTED MINING AND CRUSHING CONTRACTOR FOR THE IRON RIDGE PROJECT
https://www.investi.com.au/api/announcements/fex/fc7921ab-6c3.pdf
19 Oct 2020 Mining Contract Award – Fenix Resources – Iron Ridge
https://www.investi.com.au/api/announcements/fex/48eeeb1d-228.pdf
26 Oct 2020 ROAD TRANSPORT CONTRACT EXECUTED FOR IRON RIDGE PROJECT
https://www.investi.com.au/api/announcements/fex/67f9b587-76c.pdf
03 Dec 2020 PORT ACCESS SECURED AT GERALDTON PORT
https://www.investi.com.au/api/announcements/fex/f90e653b-879.pdf
21 Dec 2020 Production underway at Iron Ridge iron ore project in WA
https://www.investi.com.au/api/announcements/fex/2e3f562c-384.pdf