I think your view on the slow performance of GWR is WRONG. The only way for the project to make money is to have a railway. The capital cost of going into production in a small way far exceeds any benefit.
GWR now has the 2nd largest hematite resource in the midwest, which it has achieved at a pace far exceeding any other company in the midwest.
GWR has aligned its self with Yilgarn infrastructure, who have a letter of credit from the chineese development bank to build the railroad. All that is required is government approval which is clearly out of GWR's control.
GWR has approx $40 million in the bank and as such is well placed to continue to develop the project. GWR has recently appointed David Rose as CEO, who formerly was a senior executive with Rio Tinto Iron.
GWR Price at posting:
45.7¢ Sentiment: None Disclosure: Held
