CUL 0.00% 2.6¢ cullen resources limited

a new jv with fmg, page-2

  1. 12,408 Posts.
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    It wont happen overnight .... but, CUL's j/v with FMG will have to become "gold" at some stage ... because the expansion planned will include going into CUL's land!

    cheers

    Interesting read:

    http://www.theaustralian.news.com.au/story/0,20867,22070664-643,00.html

    In part:

    "FORTESCUE Metals Group is poised to pull off one of the biggest investment coups in domestic resources history.

    James Packer and Indian interests are set to back Andrew "Twiggy" Forrest's dream of breaking the Pilbara iron ore duopoly held by Rio Tinto and BHP Billiton.
    ......
    Fortescue .... has targeted a production rate of 45 million tonnes a year, before ramping that up to 100 million tonnes by 2010 and 200 million tonnes a year "as soon as possible".

    That would put Fortescue on a similar tier to iron ore heavyweights Rio Tinto and BHP Billiton as it eyes an expansion of known resources to 4 billion tonnes across its 40,000sqkm of tenements."
 
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