Pipeline BanterIt seems bashers are on the pipeline issues again. During the recent AGM I was at, discussions came up about the pipeline. It is the best option for LabMag/KeMag. They mentioned rail cost $3-4 million per KM to build vs $1 -1.5 million per KM for the pipeline. Using rail would add $15-20/tonne to their cost vs $2/tonne via the pipeline. It will be buried below frost line, it would be on I believe they said 99% crown land. People mention the concern of wear on the pipe, NMLstated the iron ore slurry is very soft compared to other products, abrasion/pipewear and the distance of the pipeline is not a concern. The NML chairman suggest they might try to have the pipeline engineering firm come to the next AGM
They also mentioned institution holding in NML has risen from the previous 10% up to 40%. There were about 30-35 people in attendence, about a dozen or so of that 35 were NML/Tata directors and staff. About 45% of the shares (87 million) were represented at that meeting