management's view on market conditions.

Received an email from Atlas Management today, this is their thoughts on the current market conditions:-

"The softer market conditions arising from the earlier holiday season, combined with delays to construction genuinely kicking off and spooked Chinese credit markets kicked off this most recent round of volatility. We would expect markets to stabilise over coming weeks as the genuine steel demand kicks in.
As to our profitability and cash flow, we still make reasonable margins at today’s price and exchange rate combination."

And they touched briefly on the rail progress saying:-

"Rail is still a work in progress however progressing as we would expect."

They also said that David Flanagan's presentation at the Perth Iron and Steel conference went well and he was well received