SMH has the headline:"Chinese investors vote with their feet".Clive Palmer claims that the Foreign Investment Review Board is "designed to slow down Chinese growth";Luo Tao,Chairman of China Nonferrous Metal Mining,complains of 'bias' against Chinese investors.The 'political risk' of Australia has made South America and Indonesia far more attractive for the Chinese.It is noted that "many Chinese investors who have plunged money into Australia only have themselves to blame for cost overruns and delays".Has this sentiment delayed the MCC evaluation of the project? The MOU states that "both parties will use their best endeavors to commence project development at the earliest possible date and coordination meetings will be held from TIME TO TIME at mutual convenience".I would suggest that such wording[capitalized]indicates that MCC expected delays in the process due to the aforementioned concerns.
Cheers to all holders
BGD Price at posting:
9.3¢ Sentiment: Hold Disclosure: Held
