more dso iron ore, page-9

Bucket> They do have $5.8m cash secured against enviromental bond.....Can they get at that?

Believe it was something they were pursuing, but not sure how/if it progressed. Certainly having that money tied up is painful. Much better to use it to improve the DSO resource so that they CAN actually mine rather than having a bond whereby they wont.

They also have assets tied up with the Demi Madison (tug) and the barge. Probably a few million there, if someone wants them. I did query who would to Ian, he seemed to think it could be useful to oil industry.

So if we can use some of that cash, gain the various approvals and get the DSO resource increased, then with the improved IO price, we should finally be able to get debt funding and move ahead.

Timewise, Im hoping for this time next year to be shipping. I've had that hope year on year, so have been regularly dissapointed.

IO pricing has remained steady above $120 for a while now, but the AUSD is stubbornly high.

Current SP seems well oversold, but I still wouldn't expect any major buying to come in unless the bulk storage approval comes through. I'll maintain a hold until then.

SA Gvt came through with the approvals last year just around christmas / new year. Lets see if they can do the same this time around.