The biggest issue is Palmer's credibility Clive Palmer last year: In one company document last year, he stated: "Under the leadership of Professor Palmer, the Queensland Nickel Group of Companies has been transformed into a profitable and nimble business with a keen eye for growth and diversification opportunities to enhance the Group's business portfolio. The Queensland Nickel Group is growing and becoming increasingly diversified, with interests in nickel-refining, coal-exploration, tourism and leisure. Clive Palmer in June: TONY JONES: Hedley Thomas, "The Australian's reporter, has said he's raised questions over the financial viability of two of your key companies, the nickel refinery in Townsville is one of them and of course your resort hotel in Coolum. Clive Palmer last week: LEIGH SALES: Is the nickel refinery that you own in North Queensland operating at a profit or loss? LEIGH SALES: And what is that profit? CLIVE PALMER: Well we'll discuss that when we release our accounts, you know. It's certainly at a profit today and that's the most important thing. Hedley Thomas on Palmer's nickel business today: CLIVE Palmer has pulled his Sunshine Coast tourism resort and dinosaur park from the corporate ownership structure of his failing Queensland nickel refinery, which has been racking up increasingly heavy losses of tens of millions of dollars a year. The Australian's searches of documents filed with the Australian Securities and Investments Commission show the ownership changes were made three weeks before the September 7 federal election... As a result of the changes, the Coolum resort, where Mr Palmer has a house in his federal seat of Fairfax and a venue for his prized dinosaurs and vintage cars, is now legally distanced from the financial woes of the refinery in Townsville. The resort and its adjoining championship golf course, a potentially valuable land-bank near the beach, would not be available to a liquidator or creditors if the refinery collapsed. The resort's ongoing losses are a small fraction of those of the refinery, which lost almost $60 million in the financial year to June 30, 2012 - a period when the nickel price was higher than it had been for the past 16 months.