price firming on the sound of pennies dropping, page-10

Which makes me wonder why you (Micky) are on the ROY page! Seems to me you are trying to validate your exit from ROY by being a negative agent.

As with most armchair observers, you have mistaken caution for disinterest. Yes, the Chinese are being a lot more wary of entering Australian mining deals, but that does not mean they have stopped. In fact, new leader Xi Jinping has reiterated that resources must be secured overseas. The rider he put on that directive, as a direct result of CITIC's adventurism, is that they must do so with strong local partners. What the leadership has identified is that it's not magnetite mines in Australia that have failed, but Chinese projects run by Chinese in a foreign country. The parochialism of Australia's media and research capabilities of pedestrian investors has failed to see similar failures in as far ranging geographies and commodities as nickel in PNG, Met coal in the USA, magnetite in Cameroon. The one thing they all have in common: 100% Chinese owned and operated.

While it is understandable to latch onto a particular persons's view of the world because they speak to your prejudices, the big investment returns are made by the contrarians who get in early and at very low cost. Running with the sheep just gets you to the abattoir faster!