They'll be 12-18 months on building need an accurate forecast on what's going on with iron ore lol.
The Chinese are dumping steel on the international market so can't be too good at the moment but may be some hope if they do start building infrastructure from the Asian Infrastructure Bank. I can't see their glut of houses levelling out anytime soon.
Does seem to be stabilising 120mt of iron ore out of the market replaced with 110mt from the big 4 iron ore miners.
Also because they in suspension with receivership underway bit hard to make good on the deal I imagine.
The $10m won't be stumped up IMO unless Creafin has almost certainly found a lender. A lender won't hand over $300m before the $10m comes through to clear the debts. Having said that $300m AUD is now only $220m USD to an international player but the Chinese locos, wagons will have gone up by the same amount maybe.
They've played the game too poorly I believe 90% + chance this won't fly.
Namely even if someone did think they had a less than $50/t resource based on lower oil prices and AUD etcetera and to take a punt. What protected them from takeover and was urgently rushed through to only prove up 24mt deposit now works against them for long life of mine at 3mt - 5mtp/a. In essence they needed to prove up their 100mt plus DSO to de-risk a tight profit margin over 20 - 30 years.
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