Good debate and points being made in both directions. A couple...

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    Good debate and points being made in both directions. A couple of things to add here:

    1) IOH have gone to China and obtained a number of signatures from customers (nine as I recall) intending to purchase the high P product. I don't think these are binding, but it shows there are buyers for this product lined up albeit at a discount.

    2) Initial income from Iron Valley is projected @ $20 mill but over the next 2-3 yrs with the intention to ramp up to 6mtpa the income potential is far greater. A nice long mine life, not a cent to spend and this could underpin future dividends somewhat pending a decent IO price. By the way RIO also hold a former IOH tenement that will pay a nice royalty if they go ahead and develop it down the track.

    3) Alwyn Vorster is a genius, he hasn't received enough credit and more importantly he hasn't yet received his payday. His remuneration was heavily weighted in IOH options that are still (even at takeover) are not in the money. He will be required to put primarily his own money into this transaction unless some golden parachute has been arranged, you will see him working his proverbial off to deal BCI into an even better position.
 
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