Baosteel - Aurizon WPIOP, page-6

Go Fishing or on holidays, Seubie, anyone touching this market now or trying to pick the bottom will end up with very smelly stink fingers... as said by a cheeky wag on another thread...

I just came back from a week's tour of Victorian wineries and heading up to NSW for few more weeks.. If me Misses sees my full stock portfolio now, I wouldn't be on holidays I'll be confined to the shed!

But I've survived worst crashes than this one and so did Cullen... Isn't the media release below a bit of a boost to moral... we'll be right ... of course there's no certainty ..... but one could only plan and move forward and that's what Baosteel and Aurizon are doing..

Well, Season greetings to all Cullenites and Aurizonites....
Don't give up and let the Saudis and trading banks ruin our bright future..... I don't care a Razoo about Stock prices... I know, like many here I waited 7years for the WPIP... what's another 2 more years!!!

Does anyone in their right mind really thinks that the Chinese after spending more than $1.7 Billion on this once in a lifetime project would throw in the towel even if Io price is $20 ...?????

" MOU signed with ANZ, China Development Bank and Baosteel
17/11/2014

Aurizon Managing Director & CEO Lance Hockridge today in Canberra joined senior representatives from the ANZ Bank; China Development Bank and Baosteel Group Corporation for the signing of a Memorandum of Understanding (MOU) for Financing Co-operation on the proposed West Pilbara Infrastructure Project (WPIP).
The MOU signing was witnessed by the Australian Prime Minister Tony Abbott and Chinese President Xi Jinping, as part of ceremonies to coincide with the finalisation today of the Australia-China Free Trade Agreement.
The other MOU signatories were Mike Smith, CEO ANZ; Xu Lejiang, Chairman of Baosteel Group Corporation; and, Hu Huaibang, Chairman China Development Bank.
"There is a significant opportunity to create a competitive funding arrangement for the West Pilbara Project, should the project proceed. The MOU demonstrates the strong extent of interest that exists at a corporate, financial and commercial level in China and Australia for this major infrastructure proposal," Lance Hockridge said.
The first stage of the proposed project involves development of a new deepwater port at Anketell and a 280km railway to support a minimum 16 year operation processing at least 40 million tonnes per annum. A Final Investment Decision for WPIP will be considered in CY2016 and is subject to a range of commercial requirements including financing and execution of take or pay contracts for infrastructure services.
Excerpt from AZJ Media release.....