outlook, page-2

I don't really know, but my observations are that well-documented general labour and more particularly diesel costs have presumably increased overall costs, and the zircon prices in AUD terms have I think declined over the last 12 months. MAL were thinking or putting a second plant on Tiwi, but the lack of news suggests this has been scrapped. The wharf damage has also obviously affected cashflow.

The stock is cheap in historical terms, but possibly for a good reason.

Lets see what the quarterly says.

angus