I think if you picked some up at the $1.50-$1.60 range that...

I think if you picked some up at the $1.50-$1.60 range that would be an excellent entry price.
I believe the company should be putting out an announcement about the rights issue soon and there is the likelihood that it has been fully subscribed.

Anyone care to guess to cost of constructing a rail line from Jimblebar to Robertson range? Railways are notoriously expensive to build even though it is 30km or so. Won't be much change from $30 million?
You can get some ideas of price from:
http://www.era.wa.gov.au/cproot/3255/2/clause9infrastructurereport.pdf
http://www.era.wa.gov.au/cproot/3252/2/unitratereport.pdf