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10 July 2024 - Investor Hub - Quality Comparison_FV - PDF.pdf

Recently a shareholder brought to AKORA's attention an iron ore quality comparison slide presented by Fortescue (FMG) comparing their DSO products to the major iron ore competitors and positioning their Iron Bridge Premium product relative to known producers.

In the below slides, AKORA’s Direct Ship Ore (DSO) product at 61% Fe, as reported in the 14 November 2023 Scoping Study release, is very competitive in iron grade and combined impurity levels of silica and alumina, at ~7%.

Interestingly, AKORA future Direct Reduced Iron (DRI) concentrate grade at ~69%Fe is higher than others noted in the FMG slide and the lowest in combined impurity levels. 

AKORA has demonstrated that the 69% Fe can be produced at a 75 micron grind size which is coarser than other, typically <40 microns, and compares favourably to FMG’s Iron Bridge Premium Product at 67% Fe with combined impurity levels at 5.8% achieved after processing and grinding to 30 microns.

Also included is the DRI concentrate comparison slide highlighting AKORA’s DRI at 69% Fe (achieved at 75 microns), is lowest and in-specification for impurity levels (<2.5% combined). 

This is achievable because Bekisopa magnetite ore is not a banded iron formation and the coarse iron minerals readily upgrade from a higher average iron head grade. 

Together, these features result in Bekisopa having a lower capital and operating cost.

AKORA Vs Competitors