With the benefit of hindsight - the master plans has always been about getting the retail investors out of the picture - has been apparent to me for at least two years and I am constantly surprised by people asking the same question. Only thing I can't quite get my head around is how easy it has been for China to play this game and nothing appears to be put in place to protect Australian investors - it appears to me that both the State Government and the Federal Government are quite happy to sell the farm in return for a few dollars in royalty payments and a few punters gainfully employed - who will then be paying income taxes.
We - the retail investors have been played for mugs and this business model should set alarm bells ringing for any more potential "joint ventures" between communist capital and private capital - the two are not compatible and this project if looked at dispassionately demonstrates this perfectly. Trick me once shame on you - trick me twice shame on me. (and that isn't going to happen twice Mr Chinaman.
GBG Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held