pigs are flying freely here

Shougang have pumped in $56 million here and are now prepared to walk away.If they havent been able to thrash out a deal by now they never will.

I would bet London to a brick, despite the current economic turmoil that the real stumbling block was the failure of Palmer to stump up more tonnes on a fair and reasonable basis. There is plenty of Chinese money around for other mining projects.

1 billion tonnes is not enough, given the huge capital cost of the project.