Been doing a bit of research. MLX 50:50 partner in Bluestone,...

Been doing a bit of research. MLX 50:50 partner in Bluestone, Yunnan Tin, is 100% state owned. Not by the central Chinese state but by the provincial Yunnan tin operates in. (CCP controlled of course) There was a move to move it into central govt controlled company, but this was shelved recently. So we have the CCP as a partner, but not Beijing, though no doubt they swing the lead if desire to. The regional governments have been in a lot of financial trouble, and more and more of it is being reported. As an example many have invested in very fast trains and only 20% of these are making money. Most people simply cannot afford the fares they have to charge and often run at below 40% capacity. They need 80% to make a profit. Unemployment is growing fast as many enterprises have low or no export orders. So demands on regional governments for welfare are rising and tax revenue falling. The exact situation for this govt. arm is opaque to me, but Yunnan, despite having a very good climate, it has a lot of real grinding poverty and unemployment already well above national norms. In this situation it might be a factor in whether YT would be all that keen on finding $120m plus for their share of setting up Rentails, right now, or in the next year or so.
Given the current trend in tin prices MLX/Bluestone Mgt might not be rushing to do anything beyond planning a.t.m?
What a blunder the then MLX mgt made selling half to buy Nifty. Still, even now with $130 mill or so in the bank, it would still be a very big ask for MLX to fund Rentails by itself, at least until Area 5 and Leatherwood are in full cry and prides turn around.
Another smaller safety valve we have is the recent drop in the $Oz against the greenback.