my guess would be lenders need it for their assessment …. Jorc...

my guess would be lenders need it for their assessment …. Jorc 2012 is what they lend on so it’s what they have to have ….

get finance to build rail infrastructure using income from stage 1 & 2 to service…. by time stage 2 is finished the rail will be complete & they will transfer a portion of the PRG split to Min Res for use of the other portion of the rail line to esperance & let the trucking go massively reducing costs and risk to IO price…. will be a massive derisk of GWR and therefore rerate …. Similar to FMG when got access to rail ….

an announcement of something similar alone should see a boost to SP as GWR won’t be so IO reliant….

they will get a cut out of FEL to use the rail also maybe why they are not pushing them as hard at the outset … but get them up and running then get the transport cost out of them ….

then sell the whole thing to Min for a Motza

how I see it playing out …. could just be wishful thinking haha