Given some foreign companies are pulling out of the sale of...

Given some foreign companies are pulling out of the sale of Arrium due to the Government insisting Whyalla stay open until 2024, it should be returned to trading with a recap. plan in place.

Washing Machinery Technology Plant in place by end of April 2017, iron ore at US$90 a tonne and rebar steel prices at high levels and tariffs in place of 30% to 50% - it should be able to trade out of this mess.

A small debt to equity conversion of maybe A$300 million is required - preferably in installment warrants vesting each 6 month period over 18 months to 2 years.

And then watch Bluescope take the company over. 6 cents a share or so.