meeting at brockman, page-16

Some very good insights there Bones. My only caveat is that you are assuming WNH is rational and the egos on its board does not get in the way.

If I was legitimate BRM shareholder who have already taken up WN's offer (and not a surrogate associate of WNH) I would be feeling like a bit of a dill.

I get the feeling in the next two months we are getting much closer to the end-game which will resolve a host of outstanding issues for BRM - either way.

Let's hope the FMG deal is not too onerous on BRM. What does BRM have to leverage to try to get a better deal? Probably the most important chip is its port allocation. If this is played cleverly and correctly by BRM we may still come out with a rail deal that leaves BRM with a fair chunk of its ore, and with enough room to lock in BRMs future ex-Marillana projects re: port and rail. That would be only fair...if it locks us into a long term expansion to FMG's expansion stratgey..then I am very OK with that, providing we are able to extract fair terms.