IMO - you are somewhere near the bottom of the market, and the bottom of the commodity price cycle. Glencore are not tipping more money in merely to shut the plant down - makes no sense - they may as well do that now and then increase their direct holding in the JV to 100%. As long as Glencore provide their funds, and failing any major catastrophe at the plant - which is not impossible of course - I wouldn't like to be working near the autoclaves nor the Hydrogen sulphide plant - then I think 30cents is very close to the bottom here. I won't say it won't get to 20 cents, but that would be too cheap relative to the entitlements issue.
duicorp, page-11
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