As outspoken parliamentarian  and businessman Clive Palmer seeks taxpayer assistance for Queensland Nickel, an audit shows the company is able to trade out of its financial difficulties the ABC has reported.

The north Queensland operation is on the verge of going into administration after the West Australian Supreme Court rejected Mr Palmer’s bid for $US48 million ($66m) from his estranged Chinese business partner CITIC.

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But the ABC’s AM program has been told that a Queensland Government-commissioned audit by KPMG of Queensland Nickel’s business operations and financial position shows it is able to continue operating and trade out of its financial difficulties.

It is news the Australian Workers’ Union’s Cowboy Stockham said he wanted employees to hear.