Here's a very quick précis, for what it's worth. I think we can start by saying that Ian Finch has always been full of bluster and optimistic pronouncements that were never realistic. Once they had an apparent green light a couple of years ago they still needed to procure/construct the necessary infrastructure as in port facilities, tug boats, barges, etc., which were all going to take far greater time than Mr Finch cared to mention. Then there was the apparent failure to realise that they'd need about 3,000 containers, costing millions, to ship the ore from mine site to Lucky Bay. Of course the iron ore price took a serious hit around that time as well. That led to the company having a bold new idea of buying less containers and instead stockpiling ore near the port site prior to shipment, in order to cut costs. That also changed the port/tug/barge arrangement completely. These new plans had to be approved by the SA Govt, which took most of last year. Now they say they only require a finance package in order to have the show up and running by year's end. How's that for a start? I'm sure others will either correct or embellish anything I've said.
TRF Price at posting:
9.5¢ Sentiment: None Disclosure: Held
