Fair enought question taifatt......note the comments from the West Australian Government.
Media statement
Read Minister's full media statement: 8/2/07
The Western Australian Government welcomed the commencement of work today on the Pilbara's first privately operated open-access railway.
Planning and Infrastructure Minister Alannah MacTiernan said the 260km railway was part of Fortescue Metals Group’s $2billion Pilbara Iron Ore and Infrastructure Project.
“This project will deliver an open access port facility on the western side of Port Hedland harbour at Anderson Point as well as the rail link to Fortescue’s mining operations in the Chichester Ranges,” Ms MacTiernan said.
“As well as serving Fortescue, these facilities could provide other companies that are developing isolated mineral deposits across the central and eastern Pilbara with access to export markets.
“The Government has worked with the company to ensure that statutory approvals required for this project to proceed were provided as quickly as possible.”
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FMG railway is 25 km from YML land. Ideally however Yml would like to use the BHP railway which runs across their lease. Right now I can tell you discussions are happening......yml say they can do a deal with FMG, but do BHP necessarily want that to happen.
Company disappointed about the current shareprice. Some initatives are being put into place to fix that now. Share price can move to 41 very quickly.....you will see.
YML
unknown
