re: Ann: MOU with Image Resources over Cyclon... Surprised that no one has commented on this, and also surprised that there is no market reaction to this either.
I view this announcement as extraordinarily good. A JV with Image over property with the same border - means reduced costs of mining, increased 'minable' land (i.e. right up to the boarder instead of an offset), reduced production costs (thought higher volume sharing), reduced construction costs of infrastructure (again through sharing).
Not sure if I'm missing something here, or if this share is totally out of favour, but in my opinion, I would have thought this would have caused a significant re-rating! But nothing is happening. Anyone else have any thoughts?
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