valuation, page-19

I notice in today's paper that one of the options that K Rudd is prepared to spend our taxes on in PNG to bribe them to take our refugees, as well as a hospital in Lae, a Uni somewhere is the Lae Madang road.It is appearently in a pretty crook condition.
MCC have been looking for a while at options of getting chromite out of the mine area to the coast.The mine when in full operation will create 160,000t of chromite as well as nickle/cobalt which cannot be slurried down the pipeline.Options are Madang port but there is something wrong with the road.Ship it out of Lae but they can only get two days loading time at a time and they need five and of course the Madang Local Government don't want that as they will miss out on some income.Another option is to truck it down the hill to the Ramu River where MCC built the bridge and load it onto barges and ship it out to a loading facility at the mouth.It is a bloody long way the Ramu comes out somewhere west,northwest of Madang.Anyway the locals are itching and ready to go.Companys,trucks etc but as usual things progress pretty slowly in PNG.They won't wait around for the road to be fixed but something has to be done with the chromite soon.
On a similar vein what does everyone think of this Sewa Bay thing.The world isn't short of nickle as the price attests and no ones going to build another refinery.Ive always thought that the refinery could be easily expanded at some stage.They have 20 years reserves plus another 15 of resources plus there are surrounding areas where they know they have more but haven't drilled.If they find anything at Sewa it could easily barged up to Basamuk as an alternate source of supply.Anyway nothing is going to happen in the short term or probably in my lifetime but its interesting.