The Chinese have visited again, presumably to sign or reject the JV. If the JV was rejected on or before Mar 31, this news would have been announced as per ASX requirements. But there is no ann. So I am assuming that there is another delay, with a new deadline. This means one of two things.
1. The JV is being renegotiated. Or
2. The Chinese Govt. needs more time to approve the JV.
I think now that Centrex has exclusive rights to the Proper Bay terminal, this adds a whole new dimension to any JV with Centrex. Remember, the Proper Bay deal was announced well after the initial Heads of Agreement was signed with Baotou.
I am betting that not only will the JV go ahead, but the Chinese will want a bigger piece of the pie. And I will go even further out on a limb and bet that other Eyre Penninsula explorers/miners will want to use the Proper Bay terminal, therefore reducing Centrex's costs.
I have put my money where my mouth is and bought some heads and oppies based on this logic/guesswork.
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