Hi guys,
The places on the announcement are proposed mine sites.
Flinders is a tenament given up to FMG in exchange of diamonds for iron ore.
The Flinders (remaining deposit) is adjacent to Soloman West or Serenity.
Basically FMG have named their first two mines after surfbreaks e.g. Cloudbreak and Christmas Creek.
The next deposit are named after ancient times e.g. Soloman, Valley of the Kings, Serenity, Valley of Queens, Firetail and Flinders.
FMG dont have to pay Flinders for building a railway through their previous tenaments as they only have an exploration licence. FMG only have to pay the government and aborigines should the expansion prove successful.
The setbacks to Flinders producing would be getting mining equipment (unless look at contract mining e.g. Machmahons, Downers) as about 18 months minimum to get new mine equipment and building the infrastructure (shortage of labour)
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- ASX - By Stock
- july 18 2008
Hi guys,The places on the announcement are proposed mine...
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