Ockha, hi
It is a nice thought, but I don't think the Federal Govt. should be too preoccupied with reputation vis a vis foreign customers for iron ore (the product quality speaks for itself - the foreigners just need to learn to cough up for it without grumbling about the price). Given the iron ore is a non-renewable resource the Federal Govt. should be preoccupied with getting the best possible deal for Australia. From the Federal point of view tight supply is better for taxation revenue from the corporate sector but bad maybe not for taxation from personal income tax and maybe not in terms of having to make payouts to the jobless). Quite what sort of policy that means they will adopt, I don't know, but their feeling sorry for small mining-development plays may not be top priority, although on fairness grounds (rarely a consideration?) the Federal Govt. should not allow the big Pilbara three to run a coach and horses through competiton law. Maybe our Board should look at how Andrew Forrest succeeded with FMG right under the noses of Rio and BHP in their backyard. At one point FMG 600 bagged over a five year period: 2 cents to A$10. Yahoo Finance does not even allow you to look at that chart (only offered last 5 days chart when I looked - the Sydney Morning Herald Chart service shows it though). I think the answer will be to amalgamate with maybe Brockman or even Gina Rinehart if FMG's spare railway capacity is all accounted for and if we can't get on it at a reasonable price. Sorry, have to leave it there. I am not really John Bull, although I am a Brit based in the U.K. Fingers crossed for this stock to come good. All the best.
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