Ann: Chinese Mining Fund Signs MoU for Stage 1 DS, page-59

re: Ann: Chinese Mining Fund Signs MoU for St... It kind of makes the Henry tax look feasible with half of the profits now heading straight to China. After a deal like this you can sort of see what Rudd is getting at.

Surely they could have got an Australian fund to invest the $35 million!

Their ore would never be hard to sell into the market it is just that the Chinese make them believe it would be and IFE believe every word along with the big cheque waving in Finch's face.

The deal was definitely necessary as they are super keen to be in production by the end of the year but it was done very cheaply as far as I am concerned.
Of course now the same fund will eventually cough up more to buy into stages 2 & 3...that is a no brainer as IFE will in no way have the required capital. The Chinese will end up owning a lot higher percentage in IFE.
Someone else has already made this point but I would be more annoyed that IFE did not come forth at the start of the BFS and announce that the mining contractor was not going to fund the initial start up. These deals do not happen overnight!

I am not holding at the moment but believe TRF to be alot better value for money now