solid mopping up, page-9

I'm saying that bubbles pop especially when no-one thinks that's possible. Just search on how much newly developed real estate is lying around in China surplus to requirements:

http://www.marketoracle.co.uk/Article15903.html

http://www.time.com/time/photogallery/0,29307,1975397_2094492,00.html

I think the iron-ore spot price will collapse quickly if China growth has a hiccup for whatever reason. That won't help any fledgling iron-ore company to get on its feet without getting smacked around by dilution or something worse like convertible notes with YA Global or someone like that on the other end. In retrospect this deal with the Chinese is probably not too bad looking at possible market conditions going forward. The thing I was hoping for was contractor-funded capex as we were led to believe by management which would have been far, far better.

TRF the clear winner here; the proposed MOU is great for them.