sino take over certain , page-16

Evens

Thanks for that - good post - thanks forthe evidence to back up - interesting times ahead

Here's a bit more to debate

Yes i base my opinion on previous hostilities.

What has changed?

Sino - Did they can the CEO - Im not sure i know there was some talk of it otherwise they still in same postition. They were never approaching us it was us to them & according to Paul there terms were unexceptable.

MMX still as desperate as ever to jump into bed & yes something is cooking. That i definately agree with.

However sino have applied to FIRB & even though they didn't get what they really wanted 49% still gives them control.

But the midwest is more than just Sino although they are part of china gov which controls all the other investments by the other chinise steel coy's investing into the other IO coy's in midwest.

But why bother with Yilgarn if they are going to jump into bed with the Jap's. They are keen as mustard to build the rail after being convincingly beat on the port to the point the gov at the time didn't even award them secong place in a two horse race (that's not good for them).

Also Yilgarn is 50% Chinese of which sino is a equity partner i think (not sure) so not controlling Yilgarn either.

The gov seemed dead set on making MMX/Mitsu use the chinese to make them happy but maybe he's seen something he doesn't like or MMX lawyers have said don't waste your time because the recent coments about Yilgarns rail wether badly worded sort of hinted OPR was the one the gov thinks can do the job for BOTH.

Either way it will be an interesting game. I have noticed some larger trading days in the last week so maybe something is going to happen soon.

Sino did say they would wait for CHM,Resource upgrade before commiting to buying MMX.

CHM case seems more flawed than ever
Resource upgraded - To Sino's like?

But what about Mitsu's 50% share in Crosslands. Hope they have a tight contract.

There is a possibility (only small) that if Sino took control of MMX before June (unlikely) they could possibly void the contract & take that 50% share of Crosslands themselves. (Very much doubt this theory)