re: Ann: 4th Quarter Activities and Cash Flow... Centrex has a big month ahead.
Government Approval of the WISCO magnetite JV, followed by a huge cash injection. Expect the approval by Aug 20 (ie JV signed on July 21 and FIRB recommendation is expected within 30 days).
The long term negotiations with Baotou over another magnetite JV are expected to reach agreement this quarter. Last year, they were discussing $40 million for a 1.5 MT per annum off-take from the Bungalow magnetite over 30 years.
These magnetite JVs have taken a long time to negotiate, but they are all very long term projects.
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