Tcf,Why do you think Barnett hasnt approved Anketell? Is it...

Tcf,

Why do you think Barnett hasnt approved Anketell? Is it because its some bureacrat on a long lunch and wanting to not make a decision because all government is immensely lazy and will drag stuff for the sake of it?

Is this your central argument?

Because Barentt said publically he wouldnt approve Anketell because he didnt want it to be another Oakajee- i.e. Murchison came out and said they didnt have the funding for their half of Oakajee, China Investment Corporation then pulled potetnial funding due to bad political issues with the Japanese, and Mitsubishi is now left holding the can with IO prices tanking.

To this end he doubted the ability of Aquila to fund the port itself and wanted them to go 50/50 with FMG. Wise move probably on his part. Ergo, if MMX or AQA had concrete funding Oakajee and Anketell would be approved.

In any case who cares, the key point here is that YES IOH is seeking a cash partner for the port, this is their basic business model to de-risk by getting partners in and they are right now doing partner selection.

To this end I cant see holdups like Anketell approval IF we secure a concrete commercial capital partner with cash in the bag. Alwyn has been quoted in the press as saying he is talking to a wide range of partners including engineering firms, private equity, miners.

And mate this project hasnt even hit financial close yet so of course its a non-binding MOU, why would you enter into a legal contract with financial repercusions without having made the decision to go ahead? Think about it for a second.

I have looked at numerous infrastructure deals in my time and every single one is under a lease from the government its just the way everthing is done mate, airports, ports, hospitals, road tunnels etc. Title reverts to the crown after a concession period. Doenst mean they have the right to terminate a commercial agreement, eg a lease with construction, without paying due compensation. Third party access in fact makes sense to reduce financial risk, its why the presentation shows a scaleable solution to 20mtpa. But it doesnt mean the Dampier Port Authority can come in tomorrow and reclaim our port like its North Korea and give out capacity for free.

So think about what other posters are saying before you attack them from your own position of misunderstanding.