I agree.. not such a good deal here folks... you get to spend...

I agree.. not such a good deal here folks... you get to spend $45M "upfront" to own rights to just 2Mtpa of railings.....

So let me see... we attract a buyer who will be able to rail just 2Mtpa and hes going to buy it because why?...

His NPV wont cut it given upfront development costs on those railings.... or at best a very long and slow ramp up....

The infrastructure costs will ensure the project is delayed until you have have access to the railings.... at best 10Mtpa railings.. ok so then you have some volume to build a project on... long delay here folks... can here the crickets already.... Think FMG folks.. rail volume is needed in these projects....

Sage needs to find a way around this road block...