BT...Interesting you mention FMG. I thought of that too, however...

BT...

Interesting you mention FMG. I thought of that too, however FMG is not in halt. But, the point is still valid as one thing that may be of particular interest to FMG is the possibility of RHI having part ownership of the rail and port.

Yes, it's quite surprising but there have been noises made by RHI management that the RHIJV captures the infrastructure aspect of the whole WPIOJV as well as the iron ore. While there has not been any public information that I am aware of regarding the dispute, I believe that Joshua Pitt (RHI Chairman) has made the claim. So RHI could end up as a 20% (or thereabouts) owner of the railway and port facilities with all of the finance debt funded by API partners up until first ore delivery. After that the repayment of the debt is to be funded by 80% of RHI cash flows. That is a very attractive deal in my opinion.

regards
DF