Still waiting on the Bungalow Magnetite JV with the Chinese. No mention of the JV in the April 30 "S.A. Resources and Energy Investment" presentation. However, the March quarterly did state that "negotiations are ongoing." There is no longer any talk of extended timeframes or return visits. This does not sound like a done deal.
The JV Heads Of Agreement was signed on 22 September 2007 and negotiations started before then. And they are still ongoing? Chairman Mao's Long March only took 12 months.
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