Thadius,
Totally agree with you mate.
I also like the fact that the resource is 100% owned (albeit 20% to TRF) but without the need for infrastructure JV's. Compare say BCI (whom i owned then flipped into IFE) who have a similar sized project, but have been forced to part with 50% in a JV with FMG who will supply the infrastructure!
2mt p.a. is a drop in the ocean, but it is going to yield a very good return for all stakeholders, including LISCO. With any luck we get ourselves a longterm strategic partner out of this MOU.
Lets hope the O/T agreement will ensure a large portion of sales to be a spot price. Im sure it will.
Cheers,
Split
iron ore train leaving the station, page-11
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