RE: Juno Minerals30 Jun 2023 12:12
Ok Dukey time for a battle of wits with an unarmed man..... lets see if you follow this through: it involves what is called Higher Order Effects but you might be able to follow it.
1. I said a step closer, it is a step closer as follows.
2. People say that the royalty agreement with Juno is for Magnetite but it is not: the agreement says iron ore. How do I know? I have a copy in my possession, have read it and discussed with AB.
3. Again, people refer to Mt Ida but, again, that is not correct. The agreement refers to specific tenements and they are listed collectively referred to as Mt Ida.
4. Mt Ida and Mt Mason abut each other. People say that Mt Ida is magnetite and Mt Mason is Hematite but, again, that is not correct.
5. If you read the Juno Minerals IPO document it states that there is a transitional zone of hematite that goes from Mt Mason into Mt Ida. Ie., as part of the Mt Mason hematite DSO project there is hematite on the Mt Ida tenements.
6. The agreement with Anglo Pacific is that $4mil is payable on a financial decision to commercially mine and then another $4mil on start of commercial mining.
7. Obviously, the agreement refers only to the "Mt Ida tenements" but if the hematite on the Mt Ida tenements is included in the Mt Mason DSO hematite project then the payments will be triggered. Anglo Pacific might argue but there we are.
8. In the IPO document it disclosed that Jupiter stopped any further drilling back in 2013 because the resource was already large enough. It is likely that there is more iron ore than disclosed in the previous CPRs. More drilling would be needed.
9. Juno's public position is that it wants to bring Mt Mason into production to fund bringing Mt Ida into production.
10. Juno has publicly said that it is reviewing Mt Ida, restating and finishing off the banking feasibility study and will then seek a JV partner.
11. At Mt Ida there is in excess of 2bn tonnes of ore at about 35% magnetite plus the hematite. Once Anglo has paid up, RRR will retain a 0.75% gross royalty on Mt Ida (NB not a Net Smelter Royalty).
Pretty much all of the above is in the public domain. To bring Mt Mason into production get the Ports gig sorted is key. As I said, one step closer.....
DYOR
xx
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