It does clear the air though and means there other companies who might want to get in on Iron Valley now know that there is a potential deal on the table and the timetable therefore creates a sense of urgency if there is more than one player interested.
It must be remembered also that there is a big benefit to FMG in having Iron Valley mined out before they start mining on their side, as the orebody slopes down into the FMG lease, and it would mean there would not be a need for a pit wall on the lease boundary (I don't claim to be a mining engineer but this seems logical). You would think therefore that FMG has a vested interest in providing the rail access to IOH to get the ore out.
IOH Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
