Re: Chinese SharesThere is definately something wrong with this company. Why has there been no movement forward with this project for over a decade? The project is drilled and is proven commercial. So the question is why no progress.
Sino Canada is an investment fund based out of Hong Kong (i think) and has owned a large share position of Oceanic for many years. They came on board when Oceanic was shopping the project to some very large industrial Chinese company's. For some reason the Chinese deal didn't happen. Now the question raised, are the shares owned by the Chinese investors holding up moving the project forward. Now Canada and other country's are concerned about selling their resources to China but I think those concerns are more for things like Lithium and other strategic metals. I am thinking a large investment by the Chinese into an iron ore project would be a benefit to the country (my humble opinion). But there is still the question why is the project is stalled. Chinese involvement might be the reason. We small shareholders don't warrant an explanation form Management.