In a period of serious global instability, weakening commodity demand and amongst other things a slowing by the biggest consumer China your directors continue to pursue the ridiculously overpriced Liberian Iron Project. Remember this project is being bought from an offshore company, of which one of your directors is a director and where we have no idea as to who are the beneficial shareholders. Just this week Kloppers, head of BHP, was talking of slowing demand. Part Excerpt from Kloppers in Perth last week Expanding that number of tonnes, in WA's inflationary operating environment, was "maybe not the cost-optimal thing to do", he said. "This is a cyclical industry. If the iron ore price is $US200 a tonne, probably yes [to investment], if the iron ore price is $US100 a tonne, probably no, and those are the judgments that we have got to make. "Do we think it is highly probable that we will get an iron ore price of $US200 a tonne over the next 18 months? No, I do not. But we could. "You are probably more likely to see an outcome where you are trying to level-peg your activity over a longer period of time rather than doing lumpy things. That probably is not a perfect answer, but hopefully that gives you some indication of what you are going to see. "The only thing that I don't want to peg is at what point we fully open the throttle [with the outer harbour development] and put the metal down." The iron ore price is about $US135 a tonne and expected to soften in the medium-term. So BHP with all their numbers men are treading warily!!
Then today reports that Liberia has had to close its borders with the Ivory Coast due to conflict.
Thousands flee after deadly Ivory Coast attacks June 10, 2012 - 3:04PM
Thousands of civilians in Ivory Coast have fled their homes after seven UN peacekeepers and eight civilians were killed in raids near the Liberian border, a UN official and residents said Saturday.
The wave of unrest prompted Liberia to announce it was shutting its border with its neighbour, although it said the move would not affect humanitarian work in the area.
The peacekeepers were killed Friday while they were patrolling an area between two villages after hearing rumours of an imminent attack on communities there. At least one Ivorian soldier was also killed in the ambush.
The raids came just days after a Human Rights Watch report blamed recent attacks in southwest Ivory Coast on fighters loyal to former president Laurent Gbagbo, who is currently awaiting trial on war crimes charges.
The authorities in Abidjan have said those behind Friday's attacks came from Liberia.
So they say that those behind the attacks came from Liberia. Over the past couple of months the President of Mali, another nearby country was ousted by the military. And your directors want to take our company into this gun totting neck of the woods!!!!!!!!! As i have often repeated, ring the Executive Chairman, Mr Otakar Demis to ask him his thoughts. Try (and i mean try) and get his number from Mr Roland Berzins, the Company Secretary, his number is 0894292900.
TBR Price at posting:
$1.31 Sentiment: ST Buy Disclosure: Held
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