yilgarn lodge $2b bid to start midwest railway, page-21

Only reason that would be good if FAS's iron interests are that good, that GWR could ramp it up at Mehendras Find and be exporting within 2 years and then revert back to Wiluna West once all the railway and Okagee business is completed. A fatter margin would be taken from mehendras (assuming the resource is there) and then that money could be used to ramp up Wiluna.

The only thing going for Mehendras is it's proximity to a standard gauge railway. The rest is unknown, or is it?

Fas management thought the Mehendras discovery was going to put a rocket under the SP and seal the GWR takeover deal. It would have 2 years earlier, but the market has become tired of 2 bit operations announcing that they have disovered iron ore. I discovered iron the other day when my mrs went on a holiday and I had to iron my own shirts. It was in the cupboard. Big Deal!

FAS management also thought that increasing the offer from 5 to 7 bits of paper was going to seal the deal.

As soon as it was announced ,a few of my colleagues and friends discussed this and we thought the only outcome would be a depreciation of the SP. We were right. So we smiled with our teeth clenched as we saw the value of our shares drop even further.

Yes a merger or GWR taking over FAS would save our bacon, but its a lose lose situation as I have much more shares in GWR.