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Mr Bateman.....Your concerns are the wrong way around,if you are genuine it should be the LACK of control that should be concerning imho.
However the government has the ability to decide who controls with the 10% option which could be linked to the sale of Zioc’s holding ensuring that shovels start doing what they were made for,obviously at the right time!
Xstrata Coal Chief Executive Peter Freyberg said: "Our decision to exercise our option to acquire management control of the Zanaga Project enables Xstrata to evaluate in greater depth the potential of the project, as part of our strategy to build a meaningful iron ore business over the medium term.
He started with an issue regarding Glencore having NO operational control or input into Jumelles,which is quite clearly bull. He was referred to the makeup of Jumelles board but ignored it.
It quite clearly didn’t fit with his reason for posting....
Say no more
Extrader.....You make some shocking assumptions....again!
Firstly the Port investment is a stand alone investment,they obtained FIVE LofI regarding persons that will utilise the port. Are you seriously saying that the Chinese will make the same demands across all five projects ??
Secondly the free 10% carry is quite clearly on a producing mine,clearly indicating the full capex exposure will not be just Jumelles
Are you seriously saying that the same demands you point out below will be made across the five projects or just little old Zioc ?? Should that be the case the entire system of exploration would collapse. We would have 80% of all mining around the world owned by the Middle East ,none of the big boys are from the Middle East !
I think the small selling trades are being done by the large buyer in order to keep a cap in the rise!
It’s been happening for a couple of weeks now,we should be in the 30s at least by now.
Saying that if they keep it up much longer I might just have to take advantage;-))