china deals exposed!, page-10

This is an interesting debate. Political risks aside, Sundance has 4.8 billion tonnes of iron ore resource at the moment which is $480 billion dollars of resource at $100/tonnes. Someone wants to pay $1.5 billion dollars for that $480 billion dollar resource and there appears to be disagreement over $200 million dollars. Who's really in the box seat here the person who has the $1.5 billion dollars or the company with the $480 billion dollar resource. Similarly, would you sell your house for $1 now or wait until you can get more for it down the track when the market improves and maybe you'll get $2. These guys can still see the attraction in the resource amount and aren't going anywhere. This is what Westcott has been saying all along.