This isn't a "scam". It's a guy or guys who are used to doing business with overseas corporations that lend money. It's a bit too "out there" for most. The upfront application money would be enormous, at 1%, and perhaps to own a port it would be worth the financiers putting up most of it.
The question is, the WA government has to agree apparently? And it probably won't.
But it sure has shuvvied the WA government into doing something.
It might be better to keep Padbury on hold until a port going to be built is announced to save us some lost shekkels.
This has been a bold move by Padbury to get it moving. To this end they are a success on behalf of the region.
PDY Price at posting:
3.3¢ Sentiment: None Disclosure: Held