well i certainly feel ripped off.at yesterdays closing price of...

well i certainly feel ripped off.

at yesterdays closing price of 21.5c, arh have couphed up $665 million for the right to mine 1 billion tonnes of magnetite. didn't citic earn the same right for just $290 million? yes citic are paying a royalty of up to 10% and arh equates to around 2% but where is the risk to palmer under such a deal with arh?

what will it cost shareholders to earn the right to mine greater than 1 billion tonnes?

it is a positive for arh but the cost is far beyond my (reasonable?) expectations.

cheers.