It is my understanding that whilst the BFS was earmarked to be completed by March 31 Shougang had until June 30 to make a decision on whether or not to proceed.
The issue of how to pay PP for more tonnage may become more complicated given that the proposed spin off may need to be delayed or more lowly priced given the recent market turmoil.
Im hoping for a quadrella:
1. Completion of BFS 2. Announcement that Chinese will pay the same or more than the Japs and Koreans have agreed to pay Vale (65% increase i think) 3.More tonnes from PP at a fair price. 4.Decision to proceed from all parties.
ARH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
