Value of Abaxx Iron Ore reserves What were the iron ore reserves worth at the time of the RTO? A good indication comes from the agreement between NML and Tata Steel Minerals Canada to unwind their mutual ownership state. NML owned just over 4% of TSMC, and TSMC owned 28% of NML shares. They essentially swapped their mutual minority positions to enable the RTO with Abaxx. So in order to get 28% of their shares back, NML gave TSMC back it’s 4% interest in Tata’s newly completed, highly profitable iron ore mine in Schefferville, Quebec. The capital cost of this mine was $1.4 billion. So based on capital cost, NML’s 4% would have been worth $64 million. This was a straight swap, so the Board of NML must have calculated that 28% of the iron ore reserves was worth the same amount. So the iron ore reserves, as a whole, would have been valued by the NML Board at around $228 million. And where are these reserves now in Abaxx management plans? They aren’t on the Balance Sheet. And why is the management of Abaxx sitting on these assets? How does this benefit the public shareholders of the Company? What need does a tech company have for iron ore assets that are sitting there doing nothing?