Transaction Cost A$ JORC resource Implied A$/tSinosteel/MIS...

Transaction Cost A$ JORC resource Implied A$/t
Sinosteel/MIS $1.3billion 172Mt $7.56/tonne
Lion/MIN/Polaris $143million 42.6Mt $3.36/tonne
BHPBilliton/UMC $204million 158Mt $1.29/tonne
Atlas/Warwick $82million 26.4Mt $3.10/tonne
Sourced from ASX announcements, company websites

not to mention the IOH deal with RIO

if UMC was truly stranded and no choice but to deal with BHP at $1.29/tonne despite proximity to RIO and BHP infrastructure it points to monumentally poor strategy over the past 2-3 years, given the current state of the iron ore market and market valuation of UMC's junior iron ore peers

you must have some pangs of regret as a long term shareholder that such an opportunity has been lost

that NPV a year ago looks pretty silly compared to Deloitte's report....which one is correct? I suspect both are ridiculous extremes.