maxw, thank you for posting that article. Are you folks really...

maxw, thank you for posting that article. Are you folks really serious that that is WM talking? Surely nonsense such as the plant is processing 12 million tonnes at one time, that is four years of ore - at one time!! - didn't come from WM's mouth?

Clearly the Minsheng conditions were very onerous - if, by borrowing one hundred million, you have to repay several hundred million. The company has done well to avoid that trap.

Interestingly WM now agrees with me that the plant IS costing $300m. It is good to have such confirmation. It does, as usual, leave the question of how it is going to be paid for. $160m had been spent on the plant at 31st December 2013, and they have $47m in the bank with some suppliers prepared to take $1m in shares - which leaves $92m to be found from somewhere, plus operating expenses, working capital costs for the commissioning and the costs of the rail and port facilities. Must be approaching requirements somewhere between the $150m to $200m mark in total. This article would have been an excellent opportunity for WM to confirm that the shortfall would be made up from the profits of the DSO and NCu sales, would it not?