I personally think the gso deal is a very good idea by the...

I personally think the gso deal is a very good idea by the management, and it has a very low probability to go through. Bankers and shareholders will need to vote on it to go ahead and neither in their right minds would want it when the mining consumables division is throwing 150m+ of cash, mining is close to break even with current spot iron, and the steel divison is returning to make money.

I believe this gso deal is just a bluff from management to make bankers and governement to move. Without putting this gso deal on the table, the banker will have the upper hand come 30 june when the covenant is reviewed. So robert is clever imo fiven the circumstances.

The whyalla steel problem is of a similar case. Arrium has 2 EAF that are profitable and this whyalla steel is just dragging the overall steel division profitability. If capitalism is perfect, we would just close the steel work. But robert is pressing the gov to help knowing that arrium could just close off the whyalla steel and leave 1000 families to suffer.

Those who work at the whyalla should realise that you dont have any bargaining power at this stage, but arrium as a company does because arrium is not only about whyalla steel.

People at the mining division should also act like grown ups and accept no one in this world can and should guarantee any job..but reject the vote, and it will give robert a better excuse to redundant workers.

And I wouldnt pay attention too much to people like villagegenius..he probably doesnt understand the overall arrium business and how the three different divisions contribute to the company's bottom line..he probably just saw the stock got dumped by allan gray, a fund manager with mixed performance success (watch how they bought stock like paperlinx at 30 cents when the company was going downhill for certain, hoping for a contrarian approach), and read the gso deal then screamed dilution dilution....