Ann: Company Update, page-13

I think common sense needs to prevail here. In the long term, I think they will do well, but short term they may pay a hefty price due to their latest announcements ie.

( As a result, BC Iron (as manager of the NJV) is implementing further changes to reflect temporary suspension of all NJV activities including demobilisation of remaining contractors from site and a further reduction of overheads. As a result of these further changes, the NJV will further minimise costs during the temporary suspension period).

They wouldn't be cutting back if they were going to resume anytime soon regarding what the iron price is?

And finally, their dispute with watpac. What impact will this have in courts if they resume operations ? In my opinion ( and I could be wrong), until this is delt with, they will not resume. Otherwise, why the cut back.

JMO
GLall