If it is SDL, which would be a coup, then the stars certainly seem to be aligning in that Region. It seems that Africa is the target for continued Chinese investment with President Xi Jinping today offering another US$60B for continued China-Africa co-operation. $10B of that is promised as a special fund for China-Africa development, and a further $5B earmarked for imports from Africa.
I could be way off the mark, but given AustSino is heavily Chinese-backed, any foray into Africa has to be underwritten not only with private investment but also with the additional weight of Chinese government backed funding. I realise I’m drawing a long bow on this.
Quote Xi Jinping (Reuters today) “China’s co-operation with Africa is clearly targeted at the major bottlenecks to development. Resources for our co-operation are not to be spent on any vanity projects but in places where they count the most”.
2 billion tonnes of ‘direct shipping ore’ certainly isn’t a vanity project, and fits in with Xi’s call to resources.
I am buzzing about this Trading Halt. Whether it’s pipedreams in Africa or further development of the assets required to link up the mid-West WA resources...or both...or neither lol.
Have been reading forum posts here for a while now as a silent observer. Just wanted to chime in on the speculation. Can’t wait to see what’s in store as it can’t be bad.
ANS Price at posting:
1.7¢ Sentiment: None Disclosure: Held
