If AGO merges with BRM, the combined entity would be very significant (catapulting AGO from the middle-weight league to the big league).
A BRM/AGO tie-up may not look so silly for the current Warwick/Atlas merges actually creates very little synergy given the geographical separation. It just beefs up the resource base. Maybe a reason for the Warwick merger is to further consolidate the South Pilbara turf with the likes of FRS and BRM.
If FMG agrees to chip in, there may be enough critical mass to jointly build additional rail serving all parties to bypass the need to use BHP/RIO haulage (which I can't see it happening anytime soon).
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