Couldn't agree more Scarpa, If a European or US interest puts the same deal on the table as Yibin, and the deal is accepted by the FIRB, then how will this effect our trade with China. And what does this mean for other explorers who might be thinking that they were going to be targeting China for foreign investment.
Has the FIRB closed all foreign investment from any country into these types of projects and if so wouldn't that have a significant effect on our economy.
It seems very odd that this deal would be knocked back by treasury on national interests, when you consider what percentage (or potential percentage) Australian Lithium would be of the total exports to China. It just doesn't make sense to knock this back and protect the Australia Lithium interests considering the amount of iron ore and coal that we export to China.
Also, In any business contract that I have ever signed or ever heard of being signed there is always a clause in it that says that both parties must make best endeavours to complete the contract that they have signed or otherwise there face penalty clauses. I don't think that it would have been possible for YIBIN to back out of this deal just because they wanted too, it is all about the confusing decision from the FIRB.
GLTAH
AVZ Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
