resourcehouse delay

Obviously markets will need to stabilise before he has another go at it - and perhaps he needs a fairer deal for all investors rather than focusing on maximising his own cut.

If the float was two weeks earlier he would have got away with it.........As Citic gets up and running the value of ARH's neighbouring plot should only increase.

With the debacle of Oakajee Rail and Port for the mid west miners, ARH should be starting to look like low hanging fruit up on the NW shelf, close to the coast with all infrastructure at hand.

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Japan disaster delays Palmer float
Andrew Burrell From: The Australian March 24, 2011 12:00AM

MINING magnate Clive Palmer has confirmed that the Japanese tsunami has delayed the planned $3 billion float of his Resourcehouse business.

Mr Palmer told The Australian in Perth last night that the float would not proceed "in the short term" because it was a "very bad time" for investors.

Mr Palmer is believed to have sought expressions of interest last month for potential cornerstone investors ahead of what was expected to be a partial initial public offering in Hong Kong in the second half of this year.

The Queensland magnate wants to raise money to fund his China First Coal project, which incorporated coalmines in the Galilee Basin and a 490km rail link and port facility at Queensland's Abbot Point.

Mr Palmer said he had never confirmed the float was being planned.

"There's been no announcement it will take place at all, except for the media," he said.

"There was some activity around the Japanese earthquake but there was no chance of us doing anything while the world is in a tragedy like that. It's a very bad time.

"I wouldn't see anything happening in the short term because things are pretty crook at the moment."

He said one positive from the Japanese nuclear crisis was that coal-fired power stations would become more acceptable. "It's not bad for coal companies, but it's a tragedy for human life," he said.