Ann: Karara Funding Update , page-18

As I see it, the Chinese have very very long term views about their investments - particularly where base metals are concerned...

in the end, they are more concerned about securing a stable supply on their hands...they will not squabble about the ownership as that is a politically sensitive issue in these times of MRRT, change of federal government, port issues etc...

their primary concern is to ensure that their partner is "healthy" enough to remain solvent so that business can carry on as usual without causing any unwanted attention to them...

we are in the midst of a cycle where IO is available from multiple sources, IO prices are 35% below highs and demand is sluggish...but this is a cycle and soon the scenario will change to supplies dwindling (as no new projects could have moved to fruition), IO price back to $180 + per tonne and demand sky-rocketing.... at that time, having a supply of high grade IO in the form of GBG is worth its weight in gold for Ansteel...

we look at ticks/pips/5-minute charts, whereas they look at it from a bird's eye view...big difference...