from todays afr, page-22

sids, I'd prefer us to get into production with a JV partner as well. The question is, is that still an option? If the Chinese SOE's are indeed prepared to make an offer against Hanlong's bid then yes, it's most certainly still an option. If the SOE's now won't move due to Hanlong's bid, a JV obviously becomes almost impossible. If there is little possibility of a JV occuring, our best hope of extracting some value here is if Xstrata enters the game and we get a bidding war between them and Hanlong. As said earlier though, I'd still prefer a Sinosteel on WISCO JV though. That's where our best long term value lies.