Nope IMHO- I think that would send the wrong messages to Aust regulators and Cameroon/ Congo Govts (and I am 1 who has had sovereign risk concerns - but pulling now would be going to far).
Clearly China have longterm horizon vision - 30 years vs the western trading day/ quarterly returns. They have valued these deposits over a 30 year timeframe at $1.4b + development (I believe steel prices rose last night). They will not pass up the once in a two decade opportunity to undermine the majors and secure their own huge supply.
Today or Monday will be the day that they pick up the phone and say Hi to GJ and see how he is going - (maybe ask him if he has sent his wish list to Santa or booked his trip).
Time to deal with our emotions and expectations - JV aint going to happen on acceptable terms, $1 is a dream, $0.80 is unrealistic.
IMHO $0.50 to $0.60 is the zone.
ps :Ben Bernanke is lubing and servicing his money printing equipment as we speak
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