1) Last CR was a failure and was done at much lower price 2) A lot of share price movements (moved up) were due to Brett's little buyings - not a true reflection of other investors; also very low volume too 3) New project cost around $95/t - Fe price expect to fall below $90/t soon, especially today announced slowest China GDP growth. This GDP does not include in further tightening of constructions in China, so I expect China's GDP will fall further unless global economy picks up.
Even if global economy picks up next year only means good for Chinese export, does not translate to building boom... Fe ore price will continue to struggle.
4) FWL is almost doubling number of shares on issue, I doubt holders will have any money in the bank - Sin-Tang probably won't be interested
LCG Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
