BRM has been more forthcoming about the next steps in rail. Looks like FMG is still prepared to deal with BRM even though Wah Nam is a majority shareholder....that is a relief.
Still the terms will be key. I wonder if
1.some BRM's port NWIOA allocation will be traded 2. what the royalty charge and/or tariff will be 3. Whether FMG will contribute to rail construction, and who will own it 4. Anything else we have to do for Twiggy, like sacrifice WR's first born?
Overall, the quarterly was a good read.
From the quarterly ----------------------
The analysis of alignment options for the potential rail spur from Marillana minesite to the FMG mainline has been completed with the second stage of environmental flora surveys planned to take place in Q3, CY2011.
Negotiations are continuing with FMG regarding the commercial and legal aspects of an end-to-end rail haulage, port access and a shipping and marketing service arrangement for the Marillana Project. In consideration of these negotiations, work is continuing on the detailed engineering of the train loading configuration and rail alignment at the minesite to ensure alignment and integration with the potential train operating protocols. Detailed engineering on the final rail spur route is anticipated to commence in Q3, CY2011, subject to a favourable outcome from these negotiations. Planning has also commenced for the sterilisation and water search drilling programs required to support the potential construction of the rail spur.
BRM Price at posting:
$3.43 Sentiment: Hold Disclosure: Held
