Ann: Change in substantial holding, page-68

Allan Gray portfolio manager Simon Mawhinney said Arrium "may have a little more headroom than Atlas but not much".

I'm gobsmacked that AG have invested over 100 million in ARI with a prognosis like that. All told, the article is cause for concern over the fate of ARI. It seems by no means clear that just pulling the pin on mining will save the day. ARI needs a substantial recovery in the price of IO and a continued fall in the A$. Such a fall in the Aussie may be good for business but will impact heavily on all Australians through higher costs for just about everything we use.