Juno Minerals Limited advised it has received the final project approval, the Native Vegetation Clearing Permit (NVCP), for the Mount Mason DSO Hematite Project (the Project). The Works Approval Application for the Project was approved in January 2022 by the Department of Water
and Environmental Regulation (DWER). The NVCP application for the Yunndaga rail siding was granted by the Department of Mines, Industry
Regulation and Safety (DMIRS) in December last year. With the Project now fully approved, a significant milestone has been reached with the next critical steps to deliver the Project focused on securing the logistics supply chain to export DSO out through the Port of Esperance. Regular discussions are being held with Southern Ports in relation to current capacity available. The mechanism of gaining access to this capacity is still being worked through by Southern Ports and the relevant stakeholders, including Juno. Continual discussions have also been held with Arc Infrastructure
regarding rail track access to Esperance, which is a critical part of the logistics solution. Juno and the Project team completed the evaluation and clarifications on all the major contract tenders and shortlisted contractors for all the major packages in December 2021. Due to the deferral of the financial investment decision (FID), the short-listed contractors agreed to extend the validity of the tenders to 31 March 2022. With the validity period having now expired, contact has been made with the short-listed parties updating them on the Project, with all keenly remaining engaged. The significant amount of work invested in the tender process positions Juno well. Once the logistics supply chain is secured, and a FID made, the parties will re-price the tenders which will save significant time on the development schedule. With the Project now fully approved, Juno remains focused on delivering a logistics solution to develop the Project with the current favourable iron ore prices. Once the solution is determined, Juno will be able
to confirm the development capital and accurate operating costs to allow the Board to make a FID along with exploring funding options available to satisfy the development capital needs.