Any comparison of UMNG to Rio Tinto is laughable. One is the second largest mining company in the world and the other has never mined anything. LOLOL One has huge financial resources ... the other sells shares to meet its daily bills. One has enormous contacts and is sought after by governments ... the other is a joke. hmmmm
Sorry ... but you CAN NOT COMPARE for ONE SECOND the financing ability of UMNG to Rio Tinto .... the second largest mining consortium in the world. LOLOLOLOL
The financing ability of UMNG is light years away from that of Rio Tinto. Read the financial pages - credit has dried up and no self-respecting banker is going to lend billions of dollars to an credit risk like UMNG with no track record as opposed to investment-grade debt from blue chip companies like Rio. In fact, Rio and BHP generate enough cash to fund a multi-billion dollar development like this from their own balance sheets without recourse to external project financing, and self-funding is likely to be cheaper for them due to lower cost of capital and lower risk premiums / discount rates attached.
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