investment, page-4

ARH: 1Bt of low-grade iron ore (NOT 2Bt), with next door CITIC CAPEX $7.5B (3X cost-blow out). 100% no chance of capital raising, just issuing more and more shares ONLY to CP.

DMA has more than 1BT mag. Fe ore, market cap about $10m (little cash). DMA sp is collapsing.

With China now focus on consumptions rather than property building investments AND tighten oversea bad investments, demand for any low-grade mag. Fe will collapse.

Good luck.