This may also be of interest. Whilst our market has not yet...

This may also be of interest.

Whilst our market has not yet discovered the value, (which to my mind is relatively easy to establish), have a listen to what the CHINESE think of the A$186m deal:

(It is from a Chinese website):

http://english.caijing.com.cn/2008-12-19/110040893.html


"“It is a good time now to buy foreign mineral resources. This not only lowers transaction costs, it also alleviates future cost pressures making it easier to control raw material costs,” Bai Fang, a spokesman for WISCO, told Caijing in a phone interview."


So a spokesman from WISCO, China's 3rd largest steel producer, thinks that they have got a bargain!

And yet, the Australian market price values CXM at BELOW its receivables price - that is, it is valuing CXM's iron ore at less than ZERO. And two Chinese giants have separately valued their 60% and 50% shares of 2 deposits at $186m and $40m respectively.

Is it little wonder that the Chinese are becoming the global economic superpower?

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