Abu said "I have to say that there is a distinct lack of BRM posts this morning in the face of huge news, I would have thought that speculation would be prolific, looks like everyone has gone out ! LOL"
Just remaining calm Abu. By all accounts it looks like the 10% that the Haoning group said that they wanted. I'm expecting $25M for 10M shares. If so then this is a great outcome. Some positives are:
Haoning have the ships that others (including FMG) don't have. Sea transportation will not be an issue
Haoning aren't going to back a producer that doesn't have a saleable product(offtake almost a certainty)
2MTPA short-term looks in the bag (they would have the cash and the partners to make it happen)
Of course we could be completely wrong.. it could be BHP receiving a placement in lieu of a fee for unfetted rail access! Now there is something for all of us to think about over the coming days :) Abu what do you think?
trade halt, page-14
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