I think the SP will as you have said drift towards 30 cents...

I think the SP will as you have said drift towards 30 cents until an announcement is made. If it hits 30 or less I expect thre will be a few in there to get amongst it, me for one!

Kezza, FMG on a trading halt is dam serious and selling assets to make a $1 bil interest payment in my mind is the express way to the waterfall. The assets are critical to producing ore and why in the world you would want to sell these and lease back is a continual drain on assets. A CR would be a shocker and god knows where the price would go if they did this so I guess asset sale is the better of two evils. Even on a good rate per tonne of Fe, they get discounted it the concentration of Fe is below the agreed concentration. So even if they are getting $120/ tonne the net could be much less. Post the GFC I think FMG was $1.80 or therre abouts and I would see it going there short term.

Given how tight NEN run I would expect a trading halt a couple of days out from an announcement and on what we know to date I would take NEN's T/H every day over the FMG T/H. It would be great for shareholders and the SP if they let out progress preports but clearly they are not into this and it has not been their practice in the past.