the bdo report, page-9

The Hanlong deal comes with big risks though simply because they are a consumer of the resource and hence will use their controlling stake to control the price they pay for the molybdenum (Very much in their favour of course - not to help minority shareholders).

I'd be much much happier if the deal was with a miner who are buying up to share in profits from this operation rather than the conflict of interests which is inevitable.

Just think about it - the miner selling the ore - controlled and 56% owned by Hanlong - sits down at the negotiating table with...... Hanlong to agree on a price - now which way do you think those price "negotiations" will go - not upwards - of that I'm certain. If not to rob MOL of profits and increase Hanlong profits - remember royalties are related to sale price - and so they'll have a double incentive to suppress price and not only disadvantage shareholders but also rob the government of revenue - which has to be made up with our taxes.

I simply cannot understand how the FIRB can imagine the Hanlong deal is in Australia's interest!