Hi,Well I think the CEIP will go ahead.Think of it from the...

Hi,
Well I think the CEIP will go ahead.
Think of it from the point of a steel producer.
About every ten years you are hit with a huge cost increase in your raw materials.
China is a massive flywheel of stimulus that defies gravity for about 3 years at a time.
For $1.5 billion invested in the CEIP you can get the iron ore feed at cost of production for [ say ] $30 ton because you have equity in the mine.
Meanwhile the Iron Ore spot price is $ 210 / ton
You take delivery of half mine output and you have saved 8000000 tons @ $180 = $1.44 billion in one year.
All other normal years you are also lowering your cost curve.
In other words the investment is almost compulsory to remain competitive and it can be paid for in one year.

I was advised by a friend versed in matters Chinese that the negotiations with the Chinese Railway Group and China Construction Bank would to go nowhere because the associated Chinese finance providers were not sufficiently connected with the top people in the Communist party. In other words they were not the sons of the military men that were on the long march with Mao. As always it is who you know in finance.

The Virtual Meeting on 27.8.21 should see all the Performance Rights passed and that leaves Macquarie to step up to the plate by 30.9.21

Then full steam ahead !