The Chineese probably are interested in the MDX magnetite put perhaps from a long term perspective. The Citi pacific project in the Pilbara has yet to show success and as we have all seen from the media is running way over budget. This project is near significant infrastructure, e energy ( gas) and water. The inland magnetite plays don't have ready access to these., the DSO plays only need infrastructure which is again problematical. The MDX so called DSO is not really DSO as they have to beneficate this whilst is quite ok their costs will obviously be higher than others who have a DSO product. They will be competing with others in the Yilgarn who are ready to mine meaning that they have mining approvals and reserves such as Cliffs, CAZ, GWR, Minres for infrastructure. Funding for the infrastructure I would guess would probably need to be underpinned by those that are in a position to do so. Banks probably won't give much weight to those that don't have approvals and reserves
MDX Price at posting:
18.0¢ Sentiment: None Disclosure: Not Held
