quantative easing rumours , page-19

"Plough I wish you would take the time to understand this project. Ansteel buys all the output and is China's leading magnetite user"

I understand the offtake but I doubt Ansteel will purchase the ore if it means making a loss (I was thinking that to when this was $A0.90 to) as plus 58%Fe hematite has a lower production cost to iron ore than magnetite and only exacerbated as coking coal falls in cost.

Mind you this is not the only company to be underwater and I have been in a couple that have done even worse in the last 6 months so please dont think I am being vindictive.