Ann: Quarterly Activities Report & Appendix 5B, page-64

point 1.

6 percent of production all at once. You only need inventories to go up and prices come down. With abr entering the market, as the highest cost producer, Rio and Turkey govt increases production and suppress the price, and try and force abr out. Plenty examples of that. Have to look at graphite, rare earth's etc. Only recently lyc have beaten the Chinese, who wanted to crush them

point 2

your bringing 6 per cent of production into the market. Prices will fall not rise if production is increased

point 3

I'm smarter than you

point 4

Rio and the Turkish would protect there market dominance. Everybody knows that. Especially if in the future abr wants to take a big slice of the market, which is what abr wants to do

point 5

abrs strategy to go into specialised products, is because it can't sell its production like Turkey and Rio have in binding contracts to industry leaders. Its a closed shop, and to solve the problem, of no buyers, its going to produce products from its ore, and try and sell that. Naturally less than industry, to guarantee sales. Abr has big loans to pay off when in production. No wiggle room, take whats on offer

point 6

your adding 6 per cent of production not 1 per cent. 1 per cent is the extra from the original plan. The original plan will put pressure on prices. And abr hasn't got a home for the production. Thats the biggest problem. Saying you are going to sell it your self is fantasy land stuff. Commodity companies don't do that. You need a factory, logistics, relationship with users, sales staff, warehouses etc etc. Crazy talk

I recon i own you