I love it. China's housing market goes down and a multi-trillion dollar economy will now collapse. They aren't even in one tenth as bad shape as we were when the sub-prime market collapsed, but let's fire up the gloom and doom predictions. Unfortunately for these doomsayers (and for the short sighted fools running Wall Street), China does not have quite the same economic outlook we do. Their vision goes out a little bit further than next quarter's numbers, which is about as far ahead as our so called leaders can see. They are thinking strategically, and planning for the future. That is why they are locking up natural resources now, because they realize that in 5-10 years those resources will be very scarce, and very valuable.
Hanlong has the backing of the Chinese Government. If you read the last press release carefully, it stated that the China Development Bank (government) had already signed on for $400 million of the loan. Hanlong is busy syndicating the other $270 odd million needed. Considering the first 5 years of production are fully pre-sold, and with a guaranteed profit (even if the floor gets negotiated downward from its current $15 level), I still expect they will get the money. After all, this is a heck of a lot safer than buying a bunch of Ninja mortgages on grossly overpriced houses, or making huge bets on derivatives you don't even fully understand. Right Jamie Diamond?
".........Hanlong has the backing of the Chinese Government. If you read the last press release carefully, it stated that the China Development Bank (government) had already signed on for $400 million of the loan........."
So Hanlong has the backing of all of China? Bank of China (government) already signed? You still expecting it? And "Loving it". When your done stroking 'IT' and got your mess cleaned up - keep your hands out of my pants?...... Looks like ALL of CHINA just collapsed based of your keen insight and observation. Either that we just got conned by a miner. Anyone checked to see it they actually have an operation there?
Maybe Nevada screwed this whole deal..... maybe it was Santa Clause? It wouldn't be the first time in recent history that China screwed Wall Street..... Cheers.