Research Note2 Aug 2023 12:06
"whi view: the mallina tenement is of strategic importance to the viability of the han****
project, since not only does it provide direct access to the great northern highway (figure
2), but it also significantly expands the exploration and resource potential of the project.
probable ore reserves in the han**** tenement currently stand at 1.9mwmt grading over
60% iron, we anticipate an increase in resource and reserve tonnage and classification
following the full reporting of infill drill results from the sirius extension. the incorporation
of the mallina tenement offers yet further scope for resource growth.
as a reminder, alien has made considerable progress as it advances plans to take han****
into production, including the signing of a memorandum of understanding for iron ore
bunker allocation at the port of utah point, and the signing of a mandate letter with anglo
american for the exclusive right to negotiate project funding and offtake arrangements.
we maintain our fair value assessment at 2.7p per share."
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