Not one of there better deals for shareholders. Gold Valley does...

Not one of there better deals for shareholders. Gold Valley does has an offtake agreement with Glencore, through PRG. The Hematite, could have been shipped via the Port of Geraldton instead (roughly 450k's away). Glencore has access, as does PRG. Price would have been around $11 - $19 a ton. A win - win, you would think.

But it would seem, that option was too easy. McCall has this fantasy with Esperance, roughly 450k's away via rail / road, from the site, then another 470k's west by ship once it's loaded, then a right turn and another 489k's back up the coast, as it passes Geraldton. (the ship still hasn't left Australian waters), so he went with $5 a ton instead. Majority of any profit going back to shareholders, was wasted on a 1000k's of pointless transport costs. Perhaps a cost and analysis first, might have seen the light come on. Maybe a phonecall to Glencore or PRG.