65pc increase in iron ore price good for pts

For two reasons:

1/ Its imminent Eastern Iron spinoff could get a better reception if the price rise in iron ore reignites the sector...there are a lot of sceptics and fair enough as its very low grade they are targetting, but with increasing iron ore price and the relatively easy upgrading of the ore to a high grade content, this could get VERY interesting.

2/ WPG shareprice should perform well. PTS owns over 6 million shares and almost 5 million options in WPG. The higher iron ore price will make using the Darwin port more feasible (after the prics at Onesteel shafted WPG with the SA port at Whyalla).

Cdchi1