Damian, fully agree along with the crap that odd parcels of $1m...

Damian,

fully agree along with the crap that odd parcels of $1m debt have passed at 95c in the dollar.
I'm sure they have,but is that from the left to right hand.
Nice round figures,ever taken your 0.0023% of a syndicated loan,nothings that round,unless its in 64th's of a boat.
All this from the same media outlet.
Yeah right,some will be rattled,others will do the numbers and see the desperation of those playing the game.
The low quality of the media spinners makes you wonder if its a growth market waiting to be exploited by someone with a brain.

I remember the Alinta owners in its last year that walked away after similar shenanigans with 10c for between an 1 and 2c investment.In the end the new buyer just had to pay,even if it was only one tenth of the tax loss they were picking up and IMHO desperately needed.

No doubt AG did their calcs and they started buying at 30c.
Yes the market has since changed and steel is making money along with Moly-Cop, just as they and I anticipated,Sheet steel has taken a hammering,but reo in $AUD terms has stayed reasonably stable from May to August if US$ pricing figures ex China are to be believed.
So ARI should slowly be climbing out of its cash flow hole.
At $55Us a ton for IO that should be $5mUS this month towards paying IO restructure costs.
Moly-Cop should be seeing a start to margin increases with its new SAG Ball.
Hollow section anti-dumping charges recently set may point to quicker resolution of ARI outstanding dumping claims.

DYOR + DYODD