re: Ann: Project Update - Nullagine Iron Ore ... First Ore on...

re: Ann: Project Update - Nullagine Iron Ore ... First Ore on ship 1st Quarter.

Could this indicate first shipment could be as late as March as hotlegs had suggested earlier?

I'm thinking/hoping Feb not March. Only because it could be hard to meet the 1Mt by 30/06/11 target, if first shipment is left until March 2011.

I'm only guessing here. Mike has been determined to get the first shipment off. However FMG sees it as more of a token shipment for the NJV, and doesn't care about any perceived token gesture. And any token gesture doesn't out weight the negatives. Such as there isn't enough NJV IO to fill a ship. So the NJV would have to share a ship with FMG. FMG maybe telling BCI, just wait, until there's enough ore for a full shipment.

But I'd say the NJV will be at a 3Mtpa rate when first shipment is made. And the idea of getting some of the NJV stockpile onto a train early to say that the NJV is producing, is no more. Saying that, it could be Feb until the first train leaves with NJV IO.