Reported in the Weekend Australian that Shougang, despite only owning 10% of Mt Gibson were trying to exert influence over the company to sell them ore at discounted prices. Further advised that they were trying to strike a deal whereby Mt Gibson would sell all of their ore to them.
I wonder what sort of deal they are trying to execute here given that we are relying on them to provide an estimated US 2.1 billion dollar loan to earn a 50% interest IN International Minerals and take all of the mines output.
No wonder there has been no resolution to acquiring additional tonnage from Palmer, despite seven months of negotiations.
ARH Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
