Steel making has been the main money loser from what I can...

Steel making has been the main money loser from what I can gather, all of a sudden they can find millions in savings so obviously there has been poor management. Hamer went because of it, way too late some would say.

Mines were losing big time due to IO price but also poor management and contract negotiation re shipping and handling contracts from what Prominer stated. IO rising has assisted, still a worry as I believe it could easily go below $40 very quickly. Supposedly cost of $45 a ton by end of March, no idea if they reached it or not as no update.

Molycop strong, Laverton and Rooty Hill arc furnaces doing OK with cheap scrap prices although I would assume margin still tight.

If they fix Whyalla and a cost focused management should have by now then steel should be making close to $200m a year, add in Molycop $230 and IO break even at worst and things are looking OK.

To do it you need hands on, cost focused management that can lead people and influence outcomes, not blow money on advisers or strategic review rubbish. Roberts had smarts and balls he should place himself at Whyalla for 6 months and be part of the solution, not ordering soy lattes from Gloria Jeans downstairs.

Needs to change his perception, every time you see Twiggy Forrest he has the high vis on talking to the boys.

Leadership, that's all it is.