Ann: FerrAus Responds to Wah Nam Announcement , page-4

re: Ann: FRS: FerrAus Responds to Wah Nam Ann... Hi (Mozart56)

Not sure about throwing in the towel.

I have a feeling FRS have known what has been going on.

From FRS announcements.
The Co-operation and support Agreement provides that the company and CRM will co-operate with one another with respect to other potential iron ore resource opportunities in the Eastern Pilbara region of Western Australia with the intention of assembling a sufficient base to support the financing and construction of rail and port necessary for the development of the iron ore resources assembled.
On a case-by-case basis,a meaningful right of co-operation in investment opportunities in the East Pilbara iron ore assets or (targets).

China Western Mining (China/Hong Kong),Penfold Ltd (Hong Kong)/China Railway (China).

CRM would assist FerrAus by making a substantial contribution to the development of infrastructure linking FerrAus owned assets to existing rail infrastructure.
In consideration of CRM making or securing a substantial contribution to development of the infrastructure,CRM would receive a substantial entitlement to iron ore offtake from the company's East Pilbara iron ore projects at market terms to be negotiated.
CRM 60th ranked in China's top 500 companies.
CRM ranked top three steel trader in China.Is also a large consumer of iron ore in China.

The Company is well placed to take an integral role in the development of an infrastructure solution for the East Pilbara region.

Regards
Westcott.