Anyway, in this race to the hell, ARH was sold to $0.155 in worst case. One of my friends just sold at this price. We both had held it since October 2010. It was so fearful when XAO led the world for GFCII. And the sale on fire had all of understandable reasons based on our human instincts. Today it announced that a unbinding MOU and the main points are as followings and the trading volume is just about 500K(in short term, the price could be lower or higher. Too many worry the death of China's demand. Too many thought ARH would die in the hand of Clive Palmer. Too many thought Clive just plays the boats somewhere and forget ARH. Too many thought the failure to list in HK was the end of Clive Palmer and ARH. What if EU crashes into the ashes? The unbinding MOU could not save the sale on fire since the sky needs to be save. Would all of us be hit down by the sky? Possible but unlikely! What if the sky is there in our generations? What if China and India would not come back to the dark days before 1977? If GFCI could not destroy the resource demand, what could get rid off the demand? Could we have the natural flood, one time of 100 years, every year? Could XAO, a tiny cautious economy would lead the world into the hell? All of souls in the hell choose the hell as they wish abnormally! Why do you write so much your feeling? I want to record my true feeling when XAO tries all to rush into the hell! It is invaluable for me to know the risks at worst time and the opportunities which life logic tells us again and again! ARH has IO in the ground. Clive has being timed the market since GFCI for better return. Just a history. FDL(FMS) found IO after FMG had got huge IO in FDL's tenement. I felt the hot of IO and bought in before FDL started to look for IO. GFCI pushed FDL's price to $0.025 around. Then it was recovered in the bloods of the GFCI. FMS rewarded me but with other 5-20 baggers it made my head extremely hot. I felt I could control what I could not control rather than lock the good enough profit. I didn't like to pay too much tax before I could be very rich so that I get much poor now and have to cool my head down for months. I refused to monitor the market pendulum which I never dare to forget between 2004 - October 2010. Was I stupid since April? It was in fact. However we should not cut all into ground for our mistakes. In the bloods, no too many bargain hunters believed FDL could be FMS and IO is still needed by this human world. It was true for PRR, AZZ, and so on. Of course there were a few falling knifes hurts me but not bigger than 5/30 before October 2011 per year but after that my hot head made the thing terrible! My friend who sold at ARH $0.15, called me to urge me to sell. I am grateful for his kind care but I could not sell since if I sell I would break the rules and principles at the roots. There would be some light to lead us out of the pinch dark tunnel if it has a exit to the beautiful world. Before people could see the light in opening, ARH would be up/down in the hands of the bargain hunters of the day-trading or momentum-trading types. A zero sum or worse game - risk $$ for pennies. I would try all to be self-aware and environment-aware without the fears and greed synchronized with the market sentiment! I would speed up to learn how to identify the quality, the economic moat and start the transition from a dirty-cheap fisher to a value investors with enough margin of safety! It is a fearful task and a challenge for my own personality! Do hope I could finish this transition before the machines and systems control all and market become no-human land. Do hope the sky would not fall down for our generations. ): 1. It will now have access to 2 billion tonnes of iron ore. 2. A further announcement in about a month. 3. The Royal Bank of Scotland (“RBS”) have confirmed that they are keen to pursue a satisfactory engagement letter for the issue of USD$500 million in high yield notes by IM pursuant to 144-A/ Regulation S to support the development of the project. 4. MCC HK, a subsidiary company of MCC of China whereby MCC HK has agreed to assist IM to raise 75% of the project costs by way of export credit from Chinese banks. 5. MCC HK has also agreed to accept the appointment as ECP/EPCM for the project on mutually agreed terms and conditions based on the strong background of MCC HK in this area and also for securing project finance from Chinese Banks. 6. The agreement shall be on a fixed price lump sum turnkey basis and the design in accordance with the Chinese financial study agreed by both parties. 7. The MOU is flexible to allow for Chinese and or other offtake partners for product produced from the Project and IM confirms that it is also in discussions with a major trading house to participate in offtake agreements and also for a USD$600 million investment in the project. 8. IM is currently updating the financial evaluation of the Project and these updated figures will be released to the market as soon as they are to hand. Something seemingly have being done in XAO resource sectors. The environment is bad but at last when the people could see what could be in future would let the matters better if not excellent! If something would be 10 baggers, it would find the chances for itself! I wold update my mind to lower the chances for falling knifes but increase the chances for 10 baggers while I could be sure no losses to my portfolio in worst case: 1. Buy extremely low for extremely qualified fishes, swans, or castle with moat. 2. Sell along the way when the bum and genius both make the money 3. Hoard enough cash reserves when the market is in euphoria or become anxious for the party! My fatal weakness is when the market turns to be bullish I let the dream for 10 baggers overwhelm the market reality at the peak of the horizon I should hold!