Would not have an issue myself if GT loan was used short term to...

Would not have an issue myself if GT loan was used short term to meet obligations to cornell until real cash flow started comming in - GT was buying recently so presumably would not have same need or desire as Cornell to sell. If it gives GT a bigger holding - thats fine with me - just this time I will sell when he does lol

I know many dont like the idea of dilution from a cap raising but I would love to see it - especially if to bigger players as it would in my mind have to show they have confidence when everyone else is preaching doom and gloom.

Combine that with a facelift for the board - well that would be fun!!!!!!!!!!!!!

Still think that while there has been a lot of hedge fund unwinding etc and stuff I do not profess to understand I also feel in my gut that there are a lot of smoke and mirrors at play with metal prices with the sole intention of getting them down to lower levels than they were a year or so ago - the wider market problems have added to that and probably seen as a godsend by those who were probably planning ages ago a way of pushing prices lower.


It was well known that China was unhappy with the prices they were paying a while back and probably rightly so. Did China stop imports during the Olympics or afterwards - well the Dry Baltic took time to fall to its current level so that might suggest that they did in fact continue importing during the Olympics and after but maybe just at a reducing rate.

The mega stockpile accumulated during the increased import phase leading to the Olympics and then during shut down while imports probably continued – albeit at a slower pace would have to give China the opportunity to foster an illusion that demand is falling and that it is slowing far more than what has been reported and thus put them in a decent position to try to have contract prices renegotiated.

And what are they doing with iron ore as we speak – trying to negotiate lower prices.

For mine, one needs to use better base metal prices if trying to figure out potential earnings. Yes China will probably slow a bit – but it will still be growing strongly in my mind – nevertheless it will likely slow a bit so it would be silly to use previous highs to try to get some idea of future earnings. But figures somewhere in the middle of the road would not seem unreasonable – In that ABARE recently released its forecasts for metal prices for 2009 and $3.30 – 3.40 see fairly readily achieved as does $8.70 for Nickel – and yeah cobalt is a murky market so again I will go with a middle of the road call and say half way between recent highs and recent lows – say $37 bucks.

Things look rather better then – not the cash box she should have been but well placed to make the most of the supply constraints that will come as all those others go into mothballs lol