re: Shougang
Shougang have until April 30th to commit in principle. Has been pointed out that something like $8m was booked last half for capex - ALL for magnetite project.
Would suggest that pre-development work well advanced. Additionally unlikely proceeding this hard if no second option/no confidence in go ahead.
Current Iron ore stalemate has potential to push this through you would think
as far as HY profit. At least one broker has upgraded FY forecast to 42m+ (2006, $64m 2007 FY) based on commentary and re statement of rail wagon delivery for nxt month allowing 3Mtpa output plus Aus dollar 74c and likely increase in iron ore min 10%
do your own research etc..
profit upgrade, page-7
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