sdl $1.3 billion arh $130 million, page-12

Cormorant,
Your post is very informative and relevant.WRT to your ambivalence re the capabilities of the board,I can easily reassure you.The board are solely a proxy for the real CEO,boss,negotiator,deal maker par excellence and creative genius behind this project.ie Professor Clive Palmer.It is his DNA that will define the success of the project,thank heavens.The fact that his company is sub-leasing the tenements,and he is the biggest shareholder,is a big plus in that his interests are tightly aligned with ours.We rise together.
The contractual relationship wrt tenements is not important.His company"leases"the tenements from the crown and ARH sub-leases them from him.Theoretically if ARH becomes insolvent he could reclaim the tenements.This is extremely unlikely.ARH only owes 2 or 3 million dollars and people at the level of clive palmer just dont do stuff like that.They jealously guard their reputation,if not for reasons of personal integrity but because they are acutely conscious of the values of a good name in big business.The Chinese would have nothing to do with him if his record was blemished.As the Bible says,"a good name is better than precious oil".So true!
All aboard for the ride of a lifetime.This baby is going "VERTICALLY UPWARDS".As always,DYOR.