Chinas Cornerstone Plans, page-3

By the way, it is also worth making a comment on the capital funding required for this whole project.
Little doubt (at least to me) that this project would be a perfect fit for NAIF funding and the WA Government should be pushing this course strongly and assisting where possible to ensure this project gets moving. (I think it was mentioned previously that Todd was going to approach NAIF)
I believe one of the problems that Todd faced was the lack of capital they had to contribute as equity so they went down the chinese funding path which appears to have disappeared.
The way I see it the capital funding of the port / rail is the real sticking point and I just can't understand why they couldn't get some sort of commitment from the NAIF pool on funding a portion as long as they can come up with other equity funds.
There would no doubt be some serious investors that would take a position as long as we had "friendly" money available.
Of course all parties would want to see evidence of proof of managing a development such as this so some involvement by a large company with rail and/or port construction would be essential.
It may also mean that BBIG need to be reduced to a "bit part" but of course Todd still own a large chunk of the resource.
I think that NAIF funding could also be structured so that at least part of it was provided as debt and part equity funding to reduce the pressure in the development stage which we all know will happen. NAIF equity (as I don't think it is meant long term) would then be readily replaced with private investors once development complete.
I think this type of approach has been unpalatable to Todd as they have tried to keep as much for themselves as possible, however that rarely works on such large capital investment unless you have some serious cash up your sleeve.
The above obviously is a bit simplistic, however I think they need to try and entice some fresh outside funding (equity) first to be able to present a coherent proposal to NAIF. (Or perhaps a NAIF commitment first which would be conditional on attracting outside funding, but you know how bureaucrats are!))