Australasian hosts Hunan delegationThe West Australian March 29, 2011, 1:42 pm Send
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Clive Palmer's Australasian Resources has indicated it may be closer to securing funding for its Balmoral South iron ore project with a delegation from China's Hunan group conducting due diligence.
Australasian said the visit, which included a trip to the Balmoral site, was hoped to result in a subsequent agreement between parties on project funding and development.
"Australasian looks forward to progressing discussions and advancing towards a potential commercial outcome with Hunan in the near future," the company said in a statement.
Australasian said it was updating a 2008 feasibility study to reflect prevailing market costs.
Mr Palmer holds a 66 per cent in the company
ARH Price at posting:
31.0¢ Sentiment: None Disclosure: Held
