When reading the Aquisition Scheme Booket I note that there is no mention of Ansteel's pelletizing plant in China and the profits made from turning iron ore concentrate in iron ore pellets.
This is the reason why Ansteel wants to buy the remaining share of Karara.
I also note a lot of talk
"Karara was conceptualised during a different and unprecedented time in the global iron ore cycle, when the benchmark iron ore price was continuously trading above US$120 per tonne of iron ore."
Well at that time the AUDv USD was AUD$1 = U$1
Today the concentrate price is US$106.20
So when it was AUD$120/tonne when it was conceptualised today its AUD$153.17 for concentrate.
http://www.custeel.com/en/csi.jsp
Ansteel is turning the concentrate in pellets selling for US$ 133.33/tonne or AUD$192/tonne
The question not answered WHY does Ansteel want to buy out Karara???
I'll be voting NO
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When reading the Aquisition Scheme Booket I note that there is...
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