Oly hope your enjoying the trip, sold out of the ice queen at...

Oly hope your enjoying the trip, sold out of the ice queen at average 0.85 a couple months ago, which was a wise choice. They do hold huge amount of the PM stuff but will take a while in this climate before its even realised, will buy back next year cant see any movemnt in the station before then.

CMR well what can i say the demise of this from 1.60 to current levels was unbelievable, literally unbelivable, its something i could not fathom. i got burnt a few times trying to buy her thinking it was a bottom and now will only wait for a sustained swing.

Relatively speaking the Gross revenue should be greater than May (peak metal prices) based on the drop in the dollar, especially considering cobalt is still trading at 36.5 and that is the greater of the mix of the revenue generater for the oxides and the aus dollar at 0.7. On the other side of the equation raw materials have dropped dramatically resulting in higher net profit (only speaking in general terms here not crunching numbers but logical assumptions)

What gets interesting here is that IF we get a bounce in the general economy one woudl assume
a) metal prices stable and slightly increase
b) Aud stabilises and drops slowly

resulting again in greater net profit, its bizarre that these dire market conditions have a potentially positive effect on net profit. Not on share price though as it has been decimated, however if we can start to 95% production start generating a profit and retire some debt the picture looks drastically different. Lets not forget the main game here Q1/Q2 next year HNC commitment to sulphides lets get through the next 6 months and turn this ship around.