The main query I would have is in regard to the fact that they've only spent $US930mil at Ramu so far out of a total budget of $US1.4bil and they spent just $US130mil last qtr - yet they've supposedly already purchased the major components and had them delivered to site - I was under the impression that all they had to do was to throw it all together now before commissioning starts but that doesn't cost $US470mil. Admin costs for HIG of nearly $A1.5mil for the qtr are way too high - let's hope a lot of that has to do with evaluation costs on projects they're looking to purchase.
HIG Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held