Dwarves and Middle Earth, page-40

I see the SP just tracking with the IO price....when above US$80 for 62% then GRR SP is worth upward of 20c and at around US$50 the SP around 10c, thats ok for me. The cash on hand helps for security through a downturn but not a driver of SP as market cap is often below cash backing. I don't know if a small commodity exporter can deliver a sustainable divy so buy TLS for that.
With high IO content in north pit about to be mined, SDTSF complete and new mills C1 can be lowered to what levels I don't know???. They will be able to use experience in setting up new mills perhaps at the southdown site when their quest in finding a partner is finally realised!