MagixTakeover or JV, makes no difference. The 777 k&sup2 land...

Magix

Takeover or JV, makes no difference. The 777 k² land restriction under the Iron Ore (Mount Goldsworthy) Agreement Act 1964 would apply either way.

MAC = 563 k²
UMC = 263 k²
Total = 826 k²

If BHP did a JV with UMC, to include all 3 tenements or a complete takeover, BHP would be required to relinquish 826 - 777 = 49 k² .

You might ask - Well in that case, why did BHP relinquish the ground in the first place?

Simple answer - BHP was restricted to 777 k² so it relinquished what it thought to be useless land and try its luck with that part of TR70/3156 which is in the Karinjini National Park (aprox 214 k²), but failed. Both UMC and FMG were also unsuccessful in their recent attempts.

"potential change of control"????

Takeover? I don't think so, well at least not in round 1.