Goes to show how things have changed in the Ore market and particularly for FMG.
So now we have a good idea of how the meeting went.
Meeting minutes:
IOH: Just popped in for a chat regarding Iron Valley.
FMG: What?, Iron who?
IOH: Iron Valley, Our JV, MOU, Big joint project..
FMG: Hey look we're pretty busy right now. Can you set an appointment for say 2015
IOH: Not really guys. You going to mine this site any time soon?
FMG: Arrrr NO!
IOH: How about we do and use your infrastructure. Sounds good?
FMG: LOL, NUP!
IOH: No worries Blue and by the way here's your change, oh and good luck with the train set.
Personally I wasn't that chuffed with the deal. It was too loose and I thought we could do better. That said it did propose to unlock the ore. I think there are other options (players) that have more capability and better cost structure for this deal to happen.
Come on AV, make a clever play
IOH Price at posting:
82.0¢ Sentiment: LT Buy Disclosure: Held
