sp below 37c, page-9

like i said a total dog. after years of delays, io is producing only 30k tonnes per month or 360k per year.

full production was meant to be 1.2m tonnes p.a

can't even raise USD 70m to finance rincon. i don't see why this should be a massive 6 month effort. companies like fortescue have raised >3bn. even if they pull it off, the interest rate will be s hit because of the credit crunch. imo phil should just issue 200m shares at 40 at get it over and done with. they should have started construction of the main plant ages ago, yet phil thinks its necessary to do a pilot plant first. that move has delayed us 2 years.

so the situation is ady is currently a producer of 360k tonnes of io per year, still making losses, with real income years away. so why should it be valued at its current 400m?

look for other opportunities imo, like ngf