As far as I know MOL still have all the long lead items for a 20tml mine. They have some equipment up for sale I,m not aware that they have sold it yet.
Building the larger mine will cost double the amount, so I think it best to start with the smaller set up, but I have no doubt that the idea is on the table.
The Iron Ore looks like being a god send, prices are going up which will give MOL a very quick cash flow. I,m not sure that the punters are taking this into account.
Thinking about the Hanlong situation could it be that the Chinese banks will only advance the $200mil on condition that the $500mil will be approved.
MOL Price at posting:
80.5¢ Sentiment: LT Buy Disclosure: Held
