all of this is copied directly from Shaws most recent research.
I believe the view that the pellet plant will proceed maybe even b4 the magnetitie proj (wa) is most likely outcome. Little capex required .. margins excellent.
whats left out of article from JC's research is the following:
fy06 NPAT 40.5, fy07 NPAT 67
valuation on hematite: 1.02, valuation on magnetite 1.00
12month target $1.40+ (with 1 pellet plant and/or magnetite go ahead).
all of this is copied directly from Shaws most recent research....
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