man theres been some dribble on this site .Acouple of points ,...

man theres been some dribble on this site .

Acouple of points , firstly what they have is a memorandum of understanding ( binding) no deal is in place yetso no details on the exact royalties will be decided until FMG puills the trigger. Also the exact details may well remain confidential, though the bright oneS may be able to work it out from IOH's cash flow.

The 12 mtpa bandied around is what IOH thought their mining rate would be if they went iron valley my them selves, nothing to do with what FMG might do. And FMG will have to mine iron valley first. Why does everyone think it will take them 5 years plus to get it into production ? The MD has said just yesterday they will expediate the project might be something to do with some rumours that FMG's reserves arent quite what they say they are. Remember also that IOH has advanced iron valley more than FMG has Nydinghu, it is a mining lease and has cleared other hurdles.

Instos may well become involed now cashflow is probable they will be crunching the numbers over the next week or so, selling today wasnt considered selling traders and the like , investors will step up to the plate these coming weeks .