why sell, page-49

hey Planner

I have been thinkin for some time about where the money is coming from. I posted this from the SMH back on the 22 June...not much notice taken:

Murchison Metals has long been the darling among the potential iron ore producers in Western Australia's mid-west region due to the size and quality of its second-stage Jack Hills hematite project. And having Korean steelmaker Posco as an offtake partner and major shareholder doesn't hurt.


After the market closed yesterday Murchison was given another big boost - Japan's Mitsubishi has agreed to become a 50-50 joint venture partner in Murchison's $3 billion second-stage project, which would produce 25 million tonnes a year.

In return for its financial backing, including a $150 million upfront payment to Murchison, Mitsubishi will receive marketing rights over all of the iron ore from the Jack Hills project (except for the 10 million tonnes a year already contracted to Posco).

There are still questions over the infrastructure component, given a Chinese-backed consortium called Yilgarn Infrastructure has proposed a rival railway line in the region, and that it's likely it will be the only one built. Murchison maintains it is confident its proposal will prevail.

Pick your favourite food and they may get into bed with FWL

But given the greedy litlle bu#$er that I am I would look at SSP to existing shareholders to raise some of the money...and why not if you and your mates own 80% of shares

Now did i ever mention that CBH are sitting on a 250 mill ton resource of FE at 50% plus..could be hard to get their hands on it but you never know !