Recent appointment to the board as mentioned above.Interesting...

Recent appointment to the board as mentioned above.
Interesting connection
Phil is on the board of Swick Mining
Chairman of Swick Mining is Andrew Simpson, who is Chairman of Territory Resources,(TTY) they run a small (now successful) iron ore mine in the Territory

TTY have stated they have the team and knowledge (Template)to run a iron ore operation and are looking for acquisitions/partnerships
They have probably 18 months to 2 years to go till its mined out(due to recent IO increase they are mining Orche again so that may be extended)

With the demise of ITOCHI who I thought were a brilliant partner and the implimentation of that nutter in Canberra and his new tax I imagine the J/V partner who was willing to come in and give us shareholders a better deal has done a runner.
We must understand the announcemnet was done the Monday after the release so all negotiations would have been concluded and ITOCHI were booted

Where to now
who knows
The dry is here now and drilling will start we need a J/V less than 50% and no of take agreement so the destinay can be controlled
I give this information as a guess and no knowledge into the inner workings of TTY or WDR



added the last post to the stream so we all know were we are

NTfox


I tend to disagree on that one. I thought Itochu was a good solid JV partner to have and when I heard the news I wondered where they would get the extra cash for all the required drilling and infrastructure. I would have thought about getting back in one day but this has added an element of risk to the whole equation and also the fact that there will need to be significant investment to get the port infrastructure going.