Ann: Independent Rail Alliance Study Agreement wi, page-4

re: Ann: Independent Rail Alliance Study Agre... "...will undertake a joint evaluation of a fully integrated mine, rail and port logistics solution in Western Australia’s East Pilbara region."

I wouldn't call that progress at all. That isn't a rail agreement.. that is 12 more months of consultant reports and assessment studies. The millions wasted on DFS, BHP and FMG options now seems lost forever. Back to square one.

They are no closer to mining anything at this stage... and more importantly 'where is the money going to come from?'

They might have enough for a study, but who is going to build this thing?