the past, page-27

Cloak a good point you raise on CP letting the agreement with ARH lapse to reabsorb into Minerology for his own benefit, however, this would be ignoring

a) his credibility would be shot if he "did over" the other 44% of investors in ARH (you and me included) and

b) evidence to date is he has supported ARH in this pre-funding period through either loans or the new share issues which we have been asked to approve.

Given CP is 66% shareholder he hasn't wanted to take the first low offer on the table. With an increased kitty via Resourcehouse and Citic Royalties he's in a much better bargaining position and likely to get a deal done on his terms. Who knows? if other offers haven't been attractive he may be waiting for Citic / Resourcehouse to develop / float before he takes a bigger role in the funding solution for ARH.

Shougang are still hanging in there. If they thought this was a dog they would have bolted ages ago (remember they invested at a price of $1)