Yeah totally undervalued. I want feedback to some of my...

Yeah totally undervalued. I want feedback to some of my thoughts.

Let's assume that OST deny IFE the use of their Whyalla infrastructure. Now - this would suprise me because guys from IFE are close with OST, and there was that rise in the IFE SP last week that was quite dramatic so I assumed IFE had made some progress on this front. However I now believe that the run in SP is attributable to the JV signed with Lincoln Minerals over the Hercules Prospect.

IFE and WPG are BOTH neglected by OST. Can someone please tell me why it is inefficent for the two companies, IFE and WPG, to get together?

They are both developing similar high grade magnetite projects that require little benification. They are both currently looking into DSO hematite projects. They both have a similar capital structure (although TRF half ownership of IFE is a nuissance). They are both operating in S.A and both have mentioned exactly the same alternative options to the port of Whyalla which they both agree would be their first preference. I'm quite sure WPG have proven magnetite of 40MT, IFE have proven 44MT. And last but not least they are both neglected by OneSteel!

An article in the Financial Review that I mentioned on HC a couple of months ago mentioned that IFE and WPG could both be 'defunct' come year's end - maybe we could see the inception of 'Iron Plains', or 'Western Clad?'

What are you thoughts?