bhp close to winning belinga, page-93

I'm no expert but I think the time for BHP (or other) to have made their move was when the share price was in the 30s. An unconditional offer of say 50c showing a decent premium on the price at the time while current bid was showing no signs of progressing and shareholders starting to show doubt in likelihood of success. Again I don't know all the ins and outs of mining but I don't fully agree with the idea of waiting for the permits as this is a part of the 'value add chain', buy at 50c, obtain approvals over 12mths now worth 75c, 50% profit over 12 months. Much like a property developer arranging council approvals to add to site value.

Coming in at this stage may delay the process but as I said it is not just digging the ore at of the ground that is profitable. China may have Africa 'in their pocket' but I'm sure the idea of the world's largest miner proposing to undertake the project would be quite compelling for the governments.

My thoughts on the Hanlong bid being for the purpose of obtaining approvals - they're doing a pretty average job of it by bumbling their one task of providing evidence of funding....

Just my thoughts, curious to hear others' thoughts.