Typical close to a good announcement in this risk off market....

Typical close to a good announcement in this risk off market. The photos of the Ferrosilican facilities are quite impressive. We seem to get a lot of infrastructure for $6 million. We also get an additional 400 employees. Thats a lot of man management.

Looking forward to start of 20,000 tonne p.a magnesium production from January 1. Just read that motor vehicle purchases in China are expected to grow by 8 to 10% p.a. for the foreseeable future. GM expects to sell 5 million cars (made in China) by 2015.

I assume that the 4 million shares placed at 35 cents at a premium to the market price of 32.5 cents would have gone to a long term holder(s). It would be hard for an investor to accumulate 4 million shares in this tigtly held stock without driving the price up. I wouldn't mind if they had of though.

Next lot of news should be the offtake agreements which are required before the upramp of production facilities of 55,000 tonne p.a. can proceed. This upgrade will be funded out of cashflow and bank debt.

Bank debt seems to be no problem for CMC. Means less dilution for longer term shareholders.

Eventually, the fundamentals here will be too hard to ignore.

On track and on budget.