sequel to bhp vs crm (umc & frs)

I agree it has CRM's finger prints all over it.

Given the lack of opposition to (and seemingly subtle endorsement of) WNI from the FRS camp (in which CRM already had a stake via the placement in 2009), it is clear that BRM would in conjunction with FRS provide the critical resource base to justfy a new rail link. (and using the NWIOA port allocations for BRM & FRS). UMC didn't have any port allocations.

Now that Swan has agreed to let in thousands of Chinese railroad workers on temporary visas to build the rail, all the pieces of the jigsaw are now in place.

If CRM mops up the remaining shares via cash, it may still be a not-bad outcome for stranded ore (say at $7).

I don't think money is an issue for the Chinese once they have obtained majority ownership (which is their primary hurdle to overcome).

Comments ?