As a follow up to my previous message last night, about the Chinese efforts to reduce the U.S. dollar holdings by investing in mining and exploration companies around the world, I found this story out today providing an estimated total of China's U.S. dollar holdings.

So, basically the Chinese need to convert $1.4 trillion U.S. dollars into tangible investments as soon as possible before the coming rampant U.S. dollar devaluation kicks into full gear. The article also notes that, "China's reserves, already the world's largest, increased by $7.7 billion in the first quarter [of this year]."

Bottom line: The Chinese have a lot of money they want to invest. I doubt it will be many more months before a Chinese firm (or one of their proxies) try and purchase sizeable ownership in one or more of the Ring of Fire explorers. When that happens, expect other majors to enter a comptetition with one another to see who can buy the rights to profit from the next major mining boom of a regional world-class deposit.