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"Since the disappointing MMK outcome, we have engaged widely with interested third parties with a view to securing equitable access to rail and port infrastructure and development of our PIOP. We have signed a Memorandum of Understanding (MOU) with another Australian iron ore participant, Brockman Mining Ltd, post balance date with a view of working towards an aggregation agreement.
Also, we have reached the due diligence stage with a number of parties and your Board is hopeful of presenting shareholders with a proposal prior to our 2013 Annual General Meeting."
count down, page-19
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