Why FMG applied for all Myall Creek Mining Leases, page-12

I will just put it out there ,maybe the go is Hematite.

The project would be a major step toward South Australia's goal of securing AUD 10 billion ($7.7 billion) of investments to fund a stable of new iron ore mines by 2021.

https://steelguru.com/mining/china-backs-australia-cleaner-iron-ore-project/473905

In the west Australian newspaper, perhaps a couple of weeks ago now, the head of citic pacific, said that " its possible they will never be profitable , and suggested SA's Hematite could be of significants ".
( paraphrasing )

In the SMH , I think it was Monday of this week , it laid bare FMG's low quality iron ore issues, and the subsequent drop in their earnings, they do have high grade iron ore in the Pilbara, but its circa 18 months away at best.
Just maybe this could be why they are in SA, and just maybe that's why they have surrounded SER's tenements, pure speculation on my part.

That said ,I think SER's Mineral sands tenements ( in toto ), while not world class, are certainly profitable on any matrix when viewed collectively, as IMO they should be.


Raider