It will a fabulous thing for WA if this infrastructure is finally done. I have followed the Oakajee thing for many years. Yilgarn Infrastructure and OPR were the two proponents who put proposals to the Oakajee Port development. Yilgarn were backed by the Chineese and several Midwest iron ore hopefuls. OPR were backed by Mistubishi and Murchison Metals. The WA government selected OPR as the proponent, despite Yilgarn having a fully funded proposal backed by the Chinese EXIM bank, this was at the time thought to be partly for political reasons and caused considerable embaressment for the Chinese. OPR then for many years tried to get the project up and running but were unable to secure the support of Sino Steel, GWR and GBG, partly because of the high tariff they were requesting. Without the support of these key players the project could not demonstrate financial viability. Now back to the present situation we have PDY who are claiming they have finance to develop the project, without the apparent support of key users. We also have as Premier Barnett saying that the government has been holding discussions with the Chinese. The whole situation seems a dangerous repeat of before. All of the above entirely my opinion.
PDY Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
