bhp-rio merger talks & rail -at the pointy end, page-7

At least Barnett is getting a meeting with them. Apparently this is scheduled to take place next week in Perth. If nothing else it broadens the suite of options for BRM. Unlike FRS, BRM can genuinely assess any options against building its own dedicated line. It could also entertain a hybrid option of taking up the BHP option AND building its own line. That way it could grow its own capacity from 10MTPA to 40MTPA+ pay for the line without debt and take the rest of the NWIOA ore as well. The DFS will be closely assessing this option no doubt. Even without any more drilling BRM has 700MT of DSO grade hematite (61%+)... thats nearly 20 years at 40MTA!

Still massively undervalued, as any of the above options deliver huge profits at the newly revised benchmark pricing.