haha, oh dear riddick...With the rail not expected to be...

haha, oh dear riddick...

With the rail not expected to be completed until 2014 theres no major rush for a company such as GWR.

MIS - yes epa has denied approval for part of their project. Sino spent $1.4B, i think they will modify their plans.

MMX - yep their DSO resource has been quite disappointing to date.

AGO - didnt know they were in the midwest

GBG - marginal producer at best, shareholder profitibilty subject to input prices. Energy intensive magnetite operation. Yes Ansteel will make sure this project will go ahead, but will it profitable for the average joe shareholder!!

and GWR - a little behind in its development, but if the railway won't be operational til 2014 whats the rush?
Pre Feas report due shortly. The interest will arrive at GWR when a BFS gets underway. Biggest DSO resource in the midwest. Therefore low capital start up costs. Already signed 5mtpa offtake to Hunan Valin, the same mob who took a huge stake in FMG earlier this year.

MGX - yes deposit quite small.

Result: GWR IS THE KING