Probably correct though you would hope the Chairman will make some comment on where their due diligence is up to - I assume some of the historic issues are causing concern such as the non recourse loan they mentioned in one of the Shareholder updates and tidying that up / getting comfortable is taking time.
The whole China/Australia situation at the moment must place a cloud over iron ore - now I would much prefer the DD to have been on something else.
Probably correct though you would hope the Chairman will make...
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