Thanks AJ for your thoughts even though funding is not confirmed.
I don't see it as all doom and gloom.
Investors in a 30 year mine are not worried about cyclic gyrations.
The Chinese mines are in the top quartile of the cost curve and China wants to get out of US $
I suspect a $US4b investment would provide a direct stimulus to the Chinese economy of $US 1 b as they provide all the mining equipment and railway as per Fortesque.
I take heart in the fact that the mine will start with state of the art methods and technology.
Look what happened to Japan and Germany after WW2 when they rebuilt.
CEIP will be a low cost operation producing a 72 % product that reduces polution.
Sentient predictions of a AU$ of 75 cents to the US$ has come to pass ; costs are being recalculated and I don't see why IRd can't share the same cost reductions that BHP are getting.
In fact they should be better as the mine will not be being constructed during runaway boom condition pricing.
Has IRD ever neeeded banking and institutional support up to this point ?
That will only be needed upon mine commencement.
On a care and maintenance there is enough money to last 1 more year.
Sit back and wait for the ship to come in.
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