xstrata poised to strike a deal with nkp , page-19

Xstrata cuts projects due to super profits tax
From: AAP June 03, 2010 11:39AM

SWISS mining giant Xstrata says it has suspended $586 million in expenditure on Queensland projects due to the proposed Resources Super Profits Tax (RSPT).

Well thats another $586 million that X can now spend elsewhere. Anybody else got any ideas as to where that money can go?

We need to remember that we are talking about the largest undeveloped platinum resource in the world that will have one of the lowest cash costs per ounce. It may take time to work through whatever issues Xstrata currently have, but there is very little chance that they will walk away from this project.

The issue for everyone now is that the news could come through any day over the next few weeks and there will be no warning, so do you risk selling out and looking for a cheaper entry or do you sit tight and know that you have a piece of the action when it happens? I am sitting tight.