Ajax - you are like the serial pest! Many mining and exploration companies have projects that don't work out how they expected - take a look at BHP - the HBI plant at Port Hedland only succeeded in killing a few guys, Ravensthorpe Nickel - they spent billions and then sold it for lunch money when they couldn't get the processing right for the ore mix there, the Potash company acquisition in Canada, shale gas and smelters in America, their list of financial disasters is massive compared to PRA having an exploration project that didn't end up having good results. Rio Tinto have had their share of duds as well - anyone remember the Alcan takeover? Citic Pacific Mining - CPM which apparently stands for "Can't Produce Magnetite!" - $7.5 billion over an original $4 billion project cost, then there is Sinosteel's acquisition of Midwest Corp - and how much iron ore have they shipped out since that $2 billion takeover? Do you want me to continue?
PRA Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
