Todd doesn’t have another miner because they don’t need one and...

Todd doesn’t have another miner because they don’t need one and they don’t want to outlay
another purchase of 19.9% of there shares to have representation on there board. Having a smaller group is easier to work with and achieve targets. Could you imagine the disruption in a multi Co. agreement two or more minors siding against RTA/Todd????
At the moment it’s approvals and feasibilities and latter time lines to have all the projects complete at the time the ore carrier docks.
FMS has 1.042bnt of ore and they will be shipping more than 25mt/a. The current BB project has room to expand to 45mt/a from memory. FMS is receiving a premium in price because it’s a foundation member. This may suggest that RTA/Todd had canvased other minors and wanted to go with FMS. Will they receive further concessions??? It’s all in the negotiations and conditions at the time. Going by the vote of confidence at the AGM two years ago FMS negotiated hard and achieved a good outcome.
The equipment they will be using works best working 24/7. They will need to do that to pay off the cap ex. There is no point in shipping 25mt/a for 40years.
RTA, Todd and FMS would want to get there debt below 70% and better below 50% of income before they will borrow more or banks will give them more.
At the time they meet to agree if the project were to continue , after the BFS, feasibility studies and approvals for the rail, they will have to know were the finance is coming from, to be able to progress in a timely manner.
Who owns the land where the port will be? If its RTA, that’s a good reason for Todd to own 49% of RTA. Todd and other companies like them don’t make money by taking chances and throwing trainloads of money at the project. They reduce the risk of mishaps, delays, budget blow-outs etc.
A basic investment of $100m or 10% to ensure the project is successful is normal and shows the comitman of Todd Corp. Alternatively they could have talked it up on the ASX raised the money and latter failed. We have all been there.
Based on the history of other minors the SP should continue to increase as the project progresses to first shipment and $1 is not out of the question.
All aboard, Toot toot, looking forward to better grade of spirit in my nog? .