I'm really interested to see how this one goes.
On the positive, they seem to have a tier one mining project, massive resources, low low cost, high quality, simple processes, great amenity, long life, tier one jurisdiction, explicit support from government. With it and others nearby up and running feeding into downstream processors based in Townsville this could be a regional scaled opportunity for that part of the country. But on the other side of the ledger there are five Chinese backed companies that overtly will own more than 40% of the post-IPO stock. Which begs the question: are the backers of this company really going to set up downstream facilities in Townsville or will the raw stuff be shipped and transfer priced to China.
Gang-busters or a dud? No idea, but in any case I intend to sit back and see what unfolds.
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