are they anymore astute than xstrata or VMLs major investors. i'm sure they were very good at typing numbers into an Excel spreadsheet as well. "if the FeV price doubles we'll be rich, but if it trebles...wow... and suspose we double production... amazing... lets go to The Rockpool for a nice expensive lunch, the shareholders owe us for such great work". this mining game's easy.
to date they've sold 7 tonnes of FeV and none of the promised 1 million tonnes of iron ore, with debt of $352 million... and no news of further sales. doesn't it strike you as a bit odd that they haven't announced any more production ? they are fully manned on site, what is sweet jesus' name are all those people doing there ? from now on the have to ramp up production and sales at an incremental rate of 1,000 tonnes FeV a month. and why did all the directors walk out the door, usually its easier to get a yorkshireman to buy a round of drinks than it is to get a non-exec to give up his directors fees.
give me one positive indication from the past 12 months news that everything is fine, and ask yourself what would happen in minosaura hadn't tipped in $10m - confident move, or last-ditch attempt ? take your pick.
ATI Price at posting:
50.0¢ Sentiment: None Disclosure: Not Held
