Further below taken from yesterday's Australian. Missed it with...

Further below taken from yesterday's Australian. Missed it with all the market turmoil! Would be very surpriesd if ARH wasn't tied in somehow to Resource house. Must be finally time for professor Clive to monetise that iron in the ground and actually do some mining....just as the article says.......

In relation to the Super tax my view is Rudd will either do his customary total backflip closer to the election or water down the tax to something more palatable to get it across the line. If Abott gets in then even better - the hairbrained plan will be abolished altogether.


Banks revive Clive Palmer's project plans
Andrew Main From: The Australian May 06, 2010 12:00AM

SAY what you like about Clive Palmer, but he's not a quitter. The maverick Queensland entrepreneur, who in the past few days has found himself cast as the voice of the mining industry despite not actually mining anything, appears to have rejigged the panel of managers of his long-planned Resourcehouse float in Hong Kong.

He has just lined up three new banks to breathe some new life into it. They are Credit Suisse, JP Morgan and Bank of China International, the last being a mainland Chinese bank with major operations in Hong Kong. He did have Macquarie, UBS and Citi doing their best but you won't need reminding it's been a troubled gestation.

For instance it's more than six months since the roadshows began and the uncertainty surrounding it jumped to new levels on February 10 when he told startled journalists in Perth that it hadn't been announced yet. As of last night, those advisers were still on the case, although the two major assets -- a hematite iron ore project in Western Australia and a coal deposit in Queensland's Galilee Basin -- are certain eventual targets of Messrs Rudd and Swan's proposed new super tax regime.

Bear in mind that Tony Sage, chairman of hematite neighbour Cape Lambert, has been saying he will cancel a drilling program and move his company's focus of exploration to Africa. UBS and Citi, which both did some work for Palmer on Resourcehouse late last year, are reported to have shifted attention to other clients. The one outstanding mystery, apart from whether the float will ever happen, is whether Macquarie is still involved.