if i were the md of rio., page-13

Why I sold on the announcement, and I had been a long term holder was quite simply the Eriteans had moved the goal posts and could easily do this again. Coupled with the fact we have been 9 months to get to 50/50, it could delay the project by, well 18 months to beyond 2017? The how are you going to get funding where there is only 50/50 control, the big boys will not step in and $750mill capex is not a walk in the park.
I was hugely disappointed in the announcement and to have to sell because of the above. Just sharing what a long term holder thought and explains why the share price is under pressure.