re: Ann: China Development Bank Approval of K... Credit where credit is due I think.
It's Ansteel that deserves the pat on the back for convincing CDB that they could take a share in a pissy little Aussie coy and make an economical long term business of it.
GJ and GBG deserve the pat on the back for enlisting and negotiating with Ansteel in the first place.
Loan is still not finalised but the arguement that they will secure the loan is much more convincing now. A worsening global and Chinese economy may still prevent the terms being settled.
EPA approval should come in the next few months but I think the main risk lies with IO prices over the next few years. We need higher prices to keep magnetite economical and competitive with hematite and we can only achieve higher prices through a global recovery.
re: Ann: China Development Bank Approval of K... Credit where...
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