Lexi, I do not know whether Sing Tang is going to walk away I mentioned only that I have not seen any announcement yet that they have paid the $10m.
They way ST are chasing Sphere (see the article in the West Aust) today, I would immagine they would not be knocking Razorback until they at least have a big foot in the door with Sphere.Pewrsonally I think they have a long way to go competing with a company as big as Xstrata.
As far as agreements go, not specifically the deal with ST but in a general terms I have heard that legal agreements with any Chinese companies are complicated this generally pertaining to the interpretation of agreements from English into Chinese.
As I have said before ROY has the ground and the magnetite so they are in the bargaining position.
In the West today was a article on how they are going to tax Magnetite producers. I think we will be looked after and taxed when the final separation is completed. This should spark the market that Magnetite is a iron ore that is sought after by the steel mills.
MFE Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
