Brockman has exchanged 202MT of the final product to Min Resources for the construction of the rail and port, technically Brockman can only be valued on its share of the resource, although they also have Opthalmia with 340MT at over 59%.
You might want to wait until it's clear that there is progress on port and rail. Ellison of Min Resources is suggesting the WA government won't be signing off on port development until after the next WA election due March 2021. By the time new government and minister sworn in, it could take several months beyond March before the WA government makes any decision. If there's no certainty about the port, the haulage arrangement can't be commenced because the destination for the rail/trucks is unknown.
I might add that the rail and port solution is critical for Brockman and is its priority. However, Min Resources doesn't have the same level of urgency for these as it has income from its numerous other mining activities. The original joint venture agreement with Min Resources was extended by 12 months because Min Resources couldn't get its act into gear, and now that 31 December 2020 is upon us, it appears they're no closer to meeting their obligations second time around. I wonder if the Brockman brains trust are now wondering if the terms Fortescue was offering for use of its railway and port back in 2013 weren't so bad after all?
BCK Price at posting:
6.0¢ Sentiment: None Disclosure: Held
