all aboard..., page-39

At the moment the junior I/O sector is benefiting from investor driven by the prospect of alternative sources of supply to the Chinese, thanks in large part to the behaviour of BHP & Rio. The majors must wonder in their quieter moments about what they done to have the impetus for their cosy duopoly be gradually dismantled firstly from the customer side, and now from the supply side.

The prospect of an additional railway is just talk at the moment, but should not be discounted, as the Chinese may get involved. The scale of BRM's deposit is a key aspect that makes an additional railway a business case worth considering. As I have said previously macro events are falling heavily in its favour. Whether by accident or design, BRM is well positioned with a valuable chip in the game.