The drilling results at Cockabidnie and Wilgerup have been held back and buried in the latest quarterly. There is nothing positive in these results.
The hematite can't be shipped out of Port Lincoln until January 2011 at the earliest, due to the requirement to monitor the water in the bay for 12 months.
The only good news is that the WISCO deal may be closer to sign off. But we have seen many unmet deadlines before on this deal. As for Baotou, it seems that they are waiting to see what WISCO will do first before they commit.
CXM Price at posting:
49.0¢ Sentiment: None Disclosure: Not Held
