I think ady still has some legs even without rll. Should be good for at least doubling your money in the short term if you have some spare cash.
1.3MT for 2009 should be easy for ady to achieve. They only need a new crusher and already have a mou for panamax/cape port access. Recently, they have demonstrated they have adequate road transport capacity to the port.
atm the IO market is stuffed and that is what is keeping ady's sp down I believe. Fortescue just released an interesting announcement. They are shutting down their port for 10 days to double its capacity and improve the refinement process.
They say the demand in China is for "value in use" material. They also say "the medium term outcome will be higher production and loading volumes and efficiencies to be timed for a return to more normal market demand conditions expected for 2009 and beyond."
ADY has a quality product sought after by China's steel producers. I still believe wisco wants it all and is keen to do the jv and lock in supply. But at what price? That's the big question now?
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I think ady still has some legs even without rll. Should be good...
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