Fischer is a salesman, he talks up the Company so you can't take that away from him. I did take note of his mention that this deal was MOL only hope, because in his words it was unfinanceable at the moment. What amazes me is why did the Company start out to build a 20mil ton mine order the long lead equipment, when in my mind it would have made more sense to start up small and then expand, less finance to raise etc.
In the past Fishcer has always said the project would need a partner. I never thought it would be a majority partnership,but we must not look a gift horse in the mouth.
Hanlong must be impressed with this company, its management and its resource. We just have to hope that FIRB see this is MOL only opportunity to advance the mine at the present time.
Australia needs foreign investment we just don't have the money to go it alone. So providing conditions are put in place to protect minority shareholders it a win for all.
The next few months are going to be make or break, but I get the impression that Hanglong want this deal to go through sooner rather than later. They had a meeting in Sydney yesterday re their submission to FIRB.
I also got the impression that they wished they had;nt offered the SSP, we still await details to come forward.
If all the pieces fall into place this will take off like a rocket, good luck to all that hold on for the ride.
MOL Price at posting:
$1.12 Sentiment: None Disclosure: Held
