trindade north project

Reading through past asx announcements the one from 29/09/2010 is interesting as it details the iron ore project and mentions the forgotten 50% cu hit.
http://www.avancoresources.com/pdfs/IronOreProjectUpdate25Sep10.pdf

fom the announcement:

"Trindade North is believed to be highly prospective for the discovery of economic iron ore. It comprises a single contiguous exploration license of ~4,966ha and is largely land locked by Vale tenure."

"The prospectivity of Trindade North is much enhanced by its proximity to Vale’s N4-N5 open cut which is the world’s largest high grade iron ore mine. Excellent infrastructure is a feature of the area with a rail system running through the property connecting Trindade North with the Atlantic sea port of Sao Luis, some 900km’s away. The railway is owned by Vale and will favour low cost mining and carriage of any future iron ore production from Trindade North."

So the trindade iron ore project is land locked by vale and all infrastruture is owned by vale which means they hold all the aces and know this (doesnt mean they should miss the $1m payment this has me a little puzzled). So no other buyer and you can forget avanco mining iron ore like someone else mentioned on HC cant see them building their own rail line.
The more you look into the carajas mining area the company that owns operating copper /iron ore mines, roads, rail is Vale. If we do get taken over our likely suitor would have to be Vale.