In my opinion there is no way that GCR would want to sell. They have $3.5M in infrastructure that can serve only two purposes, the transhipment of their own Bauxite and the transhipment of MLM’s bauxite. I would expect they would recommence their own bauxite mining activities once MLM gets going.
With MLM having at least 6.5 million tonnes of bauxite to be transhipped and with $14.13 per tonne factored into for transhipping costs. Even if you were to apportion this to 20% after taking out the shipping to China that leaves 6532000 x $2.80 = $18,289,600 gross revenue on a $3,500,000 investment. I don’t think they are going to sell. If anything they are just as anxious as us SHers to get this haul road approved.
Some trawling on the internet shows that the haul road goes across Rio ML and that the T & C’s of that lease does provide for the transshipment by other companies across the lease. The trawl also shows that different councils are involved with MLM lease in Aurukun, Rio’s lease in Cook and it appears GCR lease could be in yet another council area. Trawling also reveals that the transhipment up the Wey River to the ship has been approved by the Port Authority and that GCR has EA approval for transshipment.
On another subject we have the 30
th June fast approaching and the further payment of $1.5M in shares by AUZ. Interestingly I would have thought AUZ SP would have been trading a lot higher than the current 10cent range with all the positive and regular news coming out. SKI have an option to purchase up to 20% of AUZ at 12cents but this doesn’t kick in until 3 months after the BFS which is due by 30
th June. … and also Shers approval.
We may see the AUZ stick around the 10cent mark for a while and one would hope up until 30th June where MLM would then pick up 15million shares in AUZ which has the potential to be a 10 bagger. IMIO and I declare that I have holdings in both AUZ and MLM
View attachment 1041748
