What new project ?, page-20

joewolf - yes, mr market will continue to be very nervous .....until it can "see" china slowly chomping away at stockpiles .......so perhaps not the bottom in terms of share price.....

management have shown they are willing to shut-in during the tough times .......the positive is they don't need additional capital to (re) start production if / when prices improve.....

however - they are not in a position to do "all" the company growth projects (incld proving up Cassini) at present .....

as mentioned previously - MCR wont be making $$$ at present......but neither will any other producer in Oz (WSA excepted)....so the "apparent" excess of supply over consumption wont last very long (imho) ......and the ramp-up of ferro-Ni out of indo appears "slow" .......suggesting the market will tighten .....and prices should mean revert .....

market wont pay up for MCR until it can see the above outcome ......hopefully they don't get "snapped up" by a corporate with minimal premia ....

concur the divvy will be slashed ....

rgds
V_H