It may be that the prospective buyer is awaiting news on the...

It may be that the prospective buyer is awaiting news on the future of Oakajee like the rest of us. In the ACS ASX ann of 24 Mar 11 comment was made that "Discussions with some parties have taken longer than hoped due to multi levels of management requiring many levels of discussion and speculation in respect to the development of Oakajee Port."

The first part of that comment began to make sense when I learned that China's National Development and Reform Commission has 28 functional departments, bureaus, and offices (in 2009). The Commission handles approvals for foreign projects.

As to the second part, with Colin Barnett signaling that an outcome re Oakajee is just weeks away, let's hope the news favours a good outcome for the mid west.

Back in July, 2009, Colin Barnett met the Chairman of the NDRC in China and witnessed the signing of the letter of intent between Extension Hill Pty Ltd (Asia Iron Holding's subsidiary) and a Chinese investor group comprising Chongqing International (Holding) Ltd for Economic and Technical Cooperation and Chongqing Iron & Steel (Group) Co Ltd - that provided the framework for "product offtake, equipment supply and financing" by the Chinese investment group.

"These relate to Extension Hill's proposed magnetite mine located near Geraldton which will be a major user of the Oakajee Port." (http://www.wa.liberal.org.au/item/1380)

Asia iron's magnetite project has a large tonnage and a high grade resource. Accent's magnetite prospect is immediately adjacent to this large Asia Iron magnetite project. Good news re Oakajee will be a thumbs up for holders.