the main downpusher of this stock has been predictions of a poor...

the main downpusher of this stock has been predictions of a poor NPAT next year. The market has factored that in and left the price there post dilution.

This is a company where cornerstone investors paid 29c to maintain their holding

Rio shelled out 2.5million to take up its entitlement in a year when it was selling down assets

If the company reaches close to last years profitability(which it should over a year) then post dilution (at a PE of 10) the valuation would be closer to 50cents with upside upto 80c. I agree many people are waiting for next quarters results (which if it beats estimates may see the price spike - if not it need not tank because the market is not expecting a good quarter anyway)

The looming question - HOW THE HELL WILL THEY DEVELOP SOUTHDOWN. The answer: I dont know,and most likely most of you dont know - BUT I agree with Hongjiang that Shagang and Sojitz are prudent in spending their money - If they are pouring down millions it is because they see a profitable and viable option at southdown. ensuring supply is one thing - but you dont spend millions just to ensure supply - butt to make profit on both ends

and there are no catch the moon stories for this stock - its got only non exciting known facts - - so volatility downwards at this bottom levels is unlikely -- good to hold for the long term is my amateur opinion