Tough times, but as we have discussed Psi, the mine is low cost...

Tough times, but as we have discussed Psi, the mine is low cost to its peers...even though the interest in the asset is low, surely it is worth something to someone. JFE would be over the moon if they took it over. They run heaps of blast furnaces using PCI.

Mgmt are good. She is not going down without a fight. At the very least refinancing would be the next step to pay off SK and stay alive.

With no exploration and some cost cutting they will break-even or turn a profit while maintaining paying interest on the refinanced loan until better times.