chinese target australian miners

Mindful of Chinese past investment in URL that gave them access to copper concentrate expiring in Nov 2008, and that URL has signed up Xstrata after that time, it would come as no surprise if some of the Chinese held USD$B find a home in URL for the copper (49% of RCP) assets [if not the concentrate] and uranium resources which ARE NOT tied up with Xstrata's options over the RCP.

The Federal Government has also given the "green light" for the Chinese to buy into Oz miners, generally up to where they do not have a controlling interest.

Alternatively, the sale of the (options) unencumbered (98%) part of Roseby Copper Pty Ltd outright to a Chinese company (eg. Yunnan) would not involve equity issue or direct purchase of URL shares, and importantly, would not give them a controlling interest by virtue of the limited nature of the purchase - a cynic might say that this outcome would be karma forces at work.

Also, URL could also create another subsidiary for its Mt Isa uranium tenements and sell this as a discrete asset to interested Chinese or other parties.

URL Board: Get READY TO GO!