it actually says that they are still in negotiation with offtake partners as well.
the problem with Hebei was not Richmond, it was the terms that Hebei tried to muscle. This implies two things
1. if the largest IO manufacturer in China wanted in, the model and project are sound
2. Richmond are confident enough to stand firm on any unreasonable deals.
put the two together, and you have a picture of a company that can AFFORD to wait it out for the right partner and/or deal.
Hebei are also about to begin construction of Asia's largest "comprehensive Iron ore utilization base". With a hungry 700m tonne capacity to feed, they may be forced to come back to Richmond on more flexible terms.
RHM Price at posting:
26.0¢ Sentiment: Buy Disclosure: Not Held
