csm & fortescue, page-3

Marcer

I don't recall if CSM has a small investment in FMG shares or not, maybe someone can help me.

The major connection comes from the two companies having a 50:50 Joint Venture regarding the Mindy Mindy Iron Ore deposit.

The notes regarding the JV on the CSM website allude to the fact that the JV has the rights to use any port and rail facilities developed by Fortescue to aid the removal of ore from Mindy Mindy.

If I recall correctly CSM is about to undertake a further drilling program at Mindy Mindy.

Fortescue's involvement in the iron ore project is much bigger Mindy Mindy alone, so is more leveraged to this announcement then what CSM is.

For CSM, I see this news as being able to bring into play what was pretty much just an idea and posibility a year back. It adds another major project to CSM's hugely successful portfolio of mineral assets.

Lets just hope Andrew Forest at Fortescue can follow through and actually deliver on the deal.


Chinkiat