Fresh doubts on Padbury funding claim

Padbury Mining has sought another extension to its suspension from trading, saying it needs more information from its mystery backer to determine whether they have the capacity to provide a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee.

The junior explorer originally told the market it would reveal the identity of the wealthy investor it claims is providing the funds at the beginning of this week but it has now pushed that deadline back to next Wednesday.

Padbury says it is seeking "information in respect of (the investor's) capacity to meet their funding obligations" under the terms of a shareholder agreement.

It is also seeking consent from the investor to disclose the shareholder agreement in its entirety.

ASIC and the ASX have demanded further detail of the original funding announcement, which contained no information on the identity of the investor.

Premier Colin Barnett this week told reporters he couldn't see "a great deal of substance" behind Padbury's funding claims, and confirmed that he had not met with the company.

The premier instead expects Chinese giant CITIC Group to take the lead on developing a port and rail network at Oakajee after an encouraging meeting with the company's chairman in Beijing last week.