Ann: Trading Halt , page-8

Edge of the seat stuff now. Pity I sold my traders at the L/T D/T line pivot. Might have to dive back in again.

Usually 25% of my holding is trading stock with aim to trade the pivots and reduce costs of long term core investment holding. Have found that MO balances out the mistakes in the long run, albeit a bit conservative. Would be totally pee'd off if I had traded out of the lot right now, espesh if the boyz have finally got their act together.

Its hard to imagine anyone taking on such a large project as the magnetite without some pre-conditioned informal handshake beforehand tho, subject to the usual etc etc. Agree sounds like something other than a straight cap raising. We might get lucky and see some kinda package ala GBG-Ansteel. The preso alluded to such model being looked at.

Whatever the case, I hope it isnt too dilutionary at current market cap cos there is massive upside if it can realise. Too early IMO to bring in any partner unless very strategic and they come with an open cheque book thru all development stages.

PFS requirement for next 3 years has been indicated as being only 5 mill bucks, so incremental cap raising for such would seem easy enough ... prefer pro-rata renounceable if such. Shareholders must always get first crack at anything IMO.

I too was hoping for a bit of value add per some good U-results first before any cap raising tho. But doesnt sound like that. Sounds "strategic" ?

Fingers crossed Thursday is a good day and the market likes it, unlike that last ridiculous dump on such good news.

Btw where / when did GBG say they expect DSO haematite shipments first in 2011 ahead of the magnetite ? If recent, then might be related to that. One of my main reasons for picking this U-boat in first place was cos of its zilch-valued DSO haematite "Shine" JV with GBG.

I love U-boats with other assets to buffer the risk (YRR, ORP, NUP, UEQ, NTU, TUC etc). Likewise the ROY U-boat eemed a win-bet to zilch on long term investment basis cos of whatever future intrinsic value of the Shine iron ore. Now its done a full reversal again haha.

But having a minority interest under someone else's control doesnt seem worthwhile now if u have a mega magnetite project of your own u would think. And that minority interest would be nuisance value to the cashed up JV opartner? Sooner or later GBG would have to buy it out. Went down this line of thought about 20c ago in here.

So maybe now ... ? ... espesh since we need CASH now ? ... espesh IFF GBG want to start DSO from the corridor in which Shine lies ?

Or else maybe a chinese partner now ... tho that would be DISAPPOINTING so early in the game before we had a chance to package it up properly with PFS etc. Reckon Id be taking the odds on sale of Shine minority at this stage if in fact GBG is finalising 2011 production plans.

If we can nail some cash now without share dilution, that would be a mega coup of Olympian proportions IMO. Lets hope thats the case and keep it at 92 mill shares cap. The recent preso leaves much to the imagination haha.

Cant wait til Thursday to rate these guys. Exciting stuff in tuff market. Best way.

IMBOOC