Ann: Share Purchase Plan Offer Booklet, page-44

Yes, it is interesting to be reminded of the connection of the Gaines sisters. I don't understand how any investor could have not seen the end of the China property development bubble even ten years ago, but there you go. Those that were in iron ore stocks for dividend yield ten years ago should know they can be a dividend trap.

Other than slowing economic growth in the Chinese economy in general, and a drop in steel production and demand for iron ore, I don't see how Evergrande represents any contagion to Western markets. The debt they are defaulting on is all written in local currency.

Technological transformation driving demand for nickel plus general inflation must be supportive of nickel prices in the medium term at least. The last nickle price boom was driven by demand for steel. I hope we see the 2011 prices for nickel again, even if we don't see the 2007 prices again.