re: cfe and citic pacific

Terryl,
As I see it, they have a understanding with MCC for up to 70% funding. Unless this has gone out the window this will have to be part of the finance deal. The interesting thing is the remaining 30%. I guess this is were the Indians and others come into play. The Indians and others could outbid MCC for the whole 100% and vise versa but how strong legally is this understanding between MCC and ARH. Surely they couldn’t just dismiss them.... although there seems to be the demand for Iron Ore, there is a lot of other start up companies around so competition would be getting tuff... the thing with ARH is that their operating cost should be lower therefore outbid or be more atractive than the other startups......