getting ore to port, page-12

OK I'll go along with what you say haemitite on the Marra Mamba which in itself is excellent for UMC's prospects.

"Enough has been said about CAZ in that thread, but briefly Shovelanna ia a low quality deposit that is unlikely to be mined in the neart future, BHP look to have been opportunistic during negotiations with the state government"

Low quality deposit and opportunistic yet thet still struck up a MOU with CAZ regardless!! Why Then??

What you are suggesting and probably rightfully so is that it made no real economic sense to do a deal with CAZ but they still did. Why??

That was my point. At face value it made no sense but they still did it. To me it seemed like poking RIO in the eye just for the hell of it. Besides BHP really didn't know what they were forced to give up and that probably hurts more if they realise they ultimatley decided on what RIO ends up with if it turns out to be a bonanza deposit.

The point I was trying to make haemitie was that UMC's ultimate fate may not be so obvious.

Either way I think it is all upside no matter which way you look at it. Admittedly I am biased so prefer to look on the best financial outcome for us UMC holders and both RIO and BHP ain't short of cash.

We haven't even discussed the possibilities of FMG either, though I doubt they would really be interested personally.