I own Grange in my pursuit to off set some of the steel prices...

I own Grange in my pursuit to off set some of the steel prices in my industry.

1) Dilution is fine (perhaps its expected) but at the right price! For example once again my old friend CFE. It has been sold for $400 million. CFE really has only its CTA “central target area” which appears to me as the only part as being any good for mining. That CTA area is 300+ million tonnes. Grange valued at $400 million is worth $2.43 at a 70% share.

2) It is interesting Krakatau has not had discussions with Grange in recent months. Interesting, not because of the previous discussions (that's logical) but they appear not to be a candidate now. Grange must be chasing other potential partners. I was taking the view that Krakatau is one of the obvious JV partners like Sojitz regardless of any Middle Eastern etc. concerns. If they are not a contender for the JV and Grange would have done their homework, is it so bad that Krakatau (might) become a major shareholder? (by purchasing existing shares) Perhaps you're right! Providing Krakatau don't acquire too many shares in time! Off take would be guaranteed. But I'd imagine they would sign up to an off take anyway with Grange. Having Krakatau on board over some super fund as you put it would be better. Where else is Krakatau going to buy their pellets from if they don't sign an off take with Grange anyway?

Which brings me to Vale.........
I think Anthony has marketed Grange that well that he has convinced Vale to build a 7MT DR pellet plant in Malaysia! .... Couldn't get too many share holders to buy Grange, but hey, forget the money, “the story IS that good.” Aussie humour..... Its bound to happen if your invention is any good... I envisage in a board room on the other side of the world talk of Malaysia and “WHY NOT” and we know where that came from! Marketing is very important but I am a strong believer of “Build it and they will come.” Providing we don't get snapped up in the mean time we will live happily ever after, and by the way it won't be MK doing any snapping up here. Specialize in one thing and do well. That's what I have always done and it works.

I have read Vale's plan to transport Iron Ore from Brazil in 400,000 dwt ships. It appears Vale are going to such great lengths to be competitive. Round figures, Three times as far, so three times as much. One of the reasons Vale likes Malaysia is because of the deep ports. Kemaman's Port can only take 150 dwt ships and there is no room left at the port for any new comers. So unless Grange is in on it Vale is not going to end up at Kemaman. We are more advanced than Vale and we can do it but IMO time, on more than one front, is not on our side anymore!

A final thing, is BBY any good? I only had a one minute conversation with them a while back and they told me that Grange has 2 billion tonnes? What the? Maybe I need to get some of that stuff everyone else is smoking!