I'm still holding - but 1 last post.As I said a week or so ago,...

I'm still holding - but 1 last post.

As I said a week or so ago, the T/O of the Railway deposit is NOT in the best interest of Australia.

Who will benifit
BHP - They will warehouse the deposit.
UMC - Management give themselves golden handshakes, cash in truck loads of shares brought at 35c
UMC - Direct Family and mates who IMO had inside trading info (wink wink nudge nudge), but of course not guilty unless proven otherwise.

Who will NOT benifit
The rest of Australia
The Junior Ironore sector
The UMC Mum & Dad investors who believed in the high grade premuium Deposit, however did not see the greed of the self-interest Management team.

http://au.news.yahoo.com/thewest/business/a/-/wa/6452441/chinese-investment-crucial-to-growth-economist/

Chinese investment crucial to growth: economist


Westpac chief economist Bill Evans has backed the rush of Chinese investment in WA mining projects, saying it is essential if Australia is to grow without increasing its debt load.

Speaking at a Melville Cockburn Chamber of Commerce lunch yesterday, Mr Evans said foreign investment might pose issues for the Australian Government, but it was the "smart option" when credit markets were tight and the US economy remained weak.

"Availability of credit is going to remain an issue until we really see the US economy turn the corner and I'm quite pessimistic about that," Mr Evans said.

"The US economy is in deep, deep trouble in my opinion … I think it may even contract."

But Australia would continue to benefit from Asian growth, if it could get reliable funding. "So if I'm right and those offshore markets remain difficult, it makes it hard for the banks to raise the money to finance some of the demand I think is going to be coming through the door," he said. That meant Australia would have to accept a higher level of direct foreign investment.

"What Australia has to do is recognise the fact that if we are going to grow at this pace with strong investment, our current account deficit isn't going to improve, it's going to get worse," Mr Evans said.

"We can't fund it by relying on the banks, we've got to do it by getting more direct investment and that of course provides genuine issues for governments and for all of us."