moshe original deal is dead in the water

Moshe we are heading in to a cheap asset cycle with falling commodity prices, as flagged by BHP yesterday.

The original deal with Shougang is dead in the water. They wont be interested in a billion tonne based magnetite operation now, given the supposed 60 to 80 billion tonnes at Cape Preston .Scale and hence lower operating costs will be the order of the game,particularly with magnetite.

The game has changed.