I'm NOT saying FWL is good to invest now. What I'm saying is we should keep an open mind & watch how Mesabi IMTK3 turns out by late 2013 to 2014.
If they (Mesabi IMTK3) can really get things going ie fix up bugs, get 90% production capacity, and most importantly make good profits.... then there is some small hope someone will want to invest in FWL's CAPEX. IMTK3 is a bit new & risky at this stage, but Mesabi is getting somewhere & Kobe Steel been 19% owner is probably keen to build and support more IMTK3 projects.
Unfortunately current holders will have wait & possibly more dilutons unless directors are going to deferr salary payments (Again) or take a massive pay cut.
MPI is still too risky to invest as at 2012. Keep an open mind, there could be some hope of getting somewhere, but IMHO it may take a few more years.
LCG Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
