no bull, page-3

Don't give up too easily.

I still think there is a very good chance the tax will be scraped from Labour not getting it through the senate or not getting voted into power again.

Even if they do - theres still a very good chance that it won't go through in it's current form and the amount of tax will be reduced.

Markets always overreact when they don't know all the detail and assume worst possible case (in BRM's case, that the project won't get funding) - that is exactly why it's a good time to be buying now. The worst case is definitely not going to happen, as proven by this statement released by WR. Sino is still keen on the ore, and they'll take it. On top of that, iron ore contracts are predicted to hit $200/tonne within 2010.

Not to mention that with each day passing, the DFS is more and more complete. I really doubt that with the introduction of the super tax, it wipes Marillana out completely - so the DFS will look at it as a worst possible case & should confirm feasibility.

We are now looking at around 12 months until they start construction of the mine.

Always was, and still remains to be a no brainer - buy buy buy.