"This is the bit I don't understand -- the real cost of this deal when taking all costs out is infact $120M. It was explained why to me, but it went over my head ... sorry. I think it has something to do with the $20t and the fact that the NJV will now offically move to 6Mtpa."
Sorry, as I said I haven't read anything but now things are making MORE sense now that I have.
BCI is pre-paying for 3.5Mt. At a cost speculated to be $20t for rail and port. That's $70M, which as mentioned is a cost payed prior to production. So this deal is infact $120M and not $190M. I'd say BCI suggesting to FMG this pre-production cost was a sweetie to seduce a cash strapped FMG.
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