Which iron ore company only produces 400,000 tons a year? This...

Which iron ore company only produces 400,000 tons a year? This one starting out in India and trying to get a foot hold. Don’t confuse IOR with an iron ore miner, they are more an ore benification company.  So far they have struggled to even do that effectively. 

The changes now being made are what many including myself hope will be the difference between failure and success.

Why buy the garbage? Thats easy to answer, potential! With future plans for 4-8meg tons a year, a possible pellet plant with 50% free carry ownership plus plenty more. The potential is there staring them in the face, a better question IMO is can they achieve any of it?

Like it or not things needed to change and large salaries and bonus packages look to be the price IOR holders have to pay to get this company in a position to firstly have phase 2 and 3 operational and selling all the ore they can produce and then expand further. If phase 2 and 3 can produce at capacity and then selling it all can be achieved then it’s game on. If management can’t do the above then it could well be game over.

I have said before I think at last the changes made in management, proper project management and contracting a very experienced contractor who has successfully installed and commissioned large scale plants like phase 3 around the world I have confidence IOR will end up with 2 fully functional plants that will produce ore to meet the requirements of the local steel mills. Can they sell all the ore is yet another unknown but until they have something to sell all we can do is wait and see if they can lock in or confirm the previous orders are still open to be filled and to extend, increase and or announce new orders while the plants are being upgraded and built. To complete construction and have orders ready to fill would be best case. Even if orders are announced proof will need to be seen that it’s actually happening as past experience tells us orders can vanish without a trace.