As I understand it the big issue in the China neg, as we term...

As I understand it the big issue in the China neg, as we term it, is that the Co is awaiting the 1000-th regulatory mini-hurdle.I do not believe it is dead. The fact a major s/h may be a seller is irrelevant really.They do no better than the rest of us.

It is still a patient game.I do believe in the buyback at these levels as shareholders are buying stock for 85c in the $.Always a good thing. I also like the fact they disappear at times to keep sellers guessing and allow some of us to grab some 16.5 stock.

Chinese government investment is apparently switching from general infrastructure to energy. This should mean tax breaks and other incentives to get energy out of the ground.Also energy related infrastructure projects will get assistance. Coal is still king and locally produced is double royal. They have been stockpiling overseas coal and are filled to the gunnels but demand is constant esp for local energy.

Lrl is cashed up but of even more value is its contacts with jvs and its advisory Board etc.It is a Chinese co in many ways and has some very inherent advantages over foreign based cos.

It is very hard with the markets trading as they are to wait for the deal but through the buyback you have an option to go if you are tired.Keep the faith is my view.