the chinese after ady, page-5

After doing some research I think Friday's Shougang announcement is dynamite! Why? Read on...

Firstly, here is what PT says about the relationship...

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I have spent four days with Shougang in China meeting with their President, viewing their plant and iron and steel making equipment, learning about and analysing their production processes so we can tailor our production to their needs, re chemcial analysis.

They have six people visiting the Chile plant next month and two have already visited the plant.

They have appointed a special project manager for the CMSB/ADY relationship.

We have a draft sales contract which we are reviewing.

PT
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Now, what PT does not mention here is that Shougang just attempted to acquire a 20-40% stake in Mount Gibson Iron Ore Ltd and just got the boot by the Aus gov. They were hoping to secure 10m ton supply there and got nothing!

10m ton pa? Isn't that the deal they just worked out with ADY? Looks like Mt Gibson got the flick and ADY are the new partners!

Shougang are not just steel makers. They are also iron ore miners. In fact they own an 8m ton pa mine just up the cost from ADY. Check it out: http://www.shp.com.pe/

Here is the latest news on Shougang Hierro Peru...

March 28 (Reuters) - Shougang Hierro Peru (SHP.LM), a Chinese-owned iron miner, said on Friday it will invest this year in an expansion project to double annual iron production to 16 million tonnes, starting in 2010.

I expect the experts PT mentions above are not just visiting ADY's mines to look at the dud crusher. They have the expertise, they know the geology, they have cheap labor, and they are sizing up the whole area. See Shougang ann...

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We are very excited to have the President and Deputy President of Shougang International and their technical and business team currently making arrangements to visit the nine "retired" mines on our 7,400 hectares of iron ore magnetite tenements and operation at the Santa Barbara mine, the 3,500 hectare magnetite deposit at Pampa Tolofo yet to be developed, and existing and future port locations the main one being Punta Alcalde near the town of Huasco
PT
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I guess the only question that remains to be asked is: How long before "Admiralty Resources" becomes "Shougang Hierro Chile"?

Looks like Shougang got their first 4.7m shares! If they want mine they will have to pay me more than 21.5c for them.

cheers....