copper price, page-49

"When will we hear from "ka ching" WM in China?"

Good question. Is he over there just to negotiate sale of NCu (which the company is still investigating whether it is possible to extract some with the crusher) and DSO, or is it a financing trip?

How has the company paid for the plant? They tell us that it is now 100% paid for but their 4th June ann. says that it would be paid for by issuing shares to Sinosteel. That hasn't happened; or at least, a 3B hasn't been issued.

Surely Sinosteel aren't baulking at accepting shares at a value of $3.45 which are now only worth $1.70?

So, if they haven't issued shares, they must have paid cash because we are assured that there is nothing owing for the plant - so ore in lieu doesn't wash. Which means the cash position will be starting to look low.

Let's hope WM does come back with a big ka-ching, one way or another.