GREY:DTEMF - Post by User
Post by
my2bitson Oct 08, 2008 12:32am
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Post# 15512500
Signing - NR!?
Signing - NR!?When will we get news on the signing of the commitment from Sinosteel?
Do we really want it now? With market conditions the way the are maybe it would be the best strategy hold off until the markets settle - now they (Internationally) are still in panic mode.
DIT could issue a NR confirming the signing will be done during the China Mining Conference (November 11th to 13th) but why not wait until it is officially signed.
The Chinese Government has expressed they want the signing to be done prior the conference in order to make it official during the conference.
By then, market conditions should have improved:
The US Treasury said it will take three to four weeks to start distributing the 850B$ authorized by Congress. Also, world leaders have agreed to meet and work together on a uniform plan to stabilize the markets and credit crisis including on a common % reducing of interest rates and market regulations (good luck on the latter).
For information on the China Mining Conference: https://www.china-mining.com/
PS - Chinese were mostly on holidays last week:
September 29th to October 3rd – National Day Holiday
http://www.qppstudio.net/publicholidays2008/china.htm