Ann: Announcement - Execution of Term Sheet for purchase of TTR, page-25

In theory it is a better way to mine iron. You have giant ships ready to take the "ore" and just suck it up on board. Then straight to the refinery at port. No need to have rails to your hole in the ground, cheaper to transport it which is why it is "more green". Restoration would likely be horrendous though and obviously this project already has had setbacks due to the destruction it will have on the local ecosystem. Marine destruction is typically viewed as significantly worse than dusty desert holes in the ground.

I mean the project doesn't sound THAT bad outside the potential of it never starting, the issue is what the hell does a company the size of MKR have in getting this off the ground? Sounds like a couple guys with big dreams got together over a liquid lunch, a bong dinner and finished up with some white snow in the Early morning.

But I see it has brought in more action on the stock market so it will be interesting to see how they try to play this out.