"Colin Barnett does not seem to think so...and he runs the state????Is this correct..."
Simple. Politics101 Barnett wants to deliver on his promise & doesn't want someone else to steal his thunder. He'd prefer to see it remain on the shelf than it to be delivered by the hands of another party.
"Gee is this project that good????How does a penny stock raise 1 Billion dollars in these markets..."
Baron Rothschild put it this way, "The time to buy is when there's blood in the streets."
China & Co have been held over a hook with premium prices charged by Rio, BHP, etc so this is an excellent opportunity to get in on a 'partnership'. Just because IO has come down in price it doesn't mean it's still not overpriced. We are experiencing a global economic contraction but it doesn't mean we've ceased building things. It's just placing more pressure on the bottom line so naturally the best solution would be to secure cheaper supplies. China has approx 3.7 trillion in foreign exchange reserves so 6.5 billion is pocket change.
To put these figures into perspective, it's a night out on the town for the average Australian. No joke!
I GUARANTEE it's not about the money. It runs deeper!
PDY Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
