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Shareholders Losing Patience, page-37

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26/11/15

10:10

Post #: 16481214
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Originally posted by Pinnacles ↑

I emailed Ian Levy querying lack of contact with shareholders and this is his reply. The attached newspaper report he refers to is the same as has been previously posted.

As soon as we secure a fixed date, we will announce immediately. Every second night, we have discussed a shipping date with the end-users and we are told "soon - be patient". We appreciate that being in limbo like this is annoying and stressful, especially since we have been ready to ship for the past 2 months.
See attached newspaper report which explains the situation to some extent. The Malaysian shipments of cheap, lower quality bauxite have displaced our Indian-styled bauxite during this unusual dry period in Malaysia. We can't say anything else because that is all that has been happening for weeks now.
This situation has happened 3 times in the seaborne bauxite market: (1) mid 2012 (Indonesian bauxite flooding into China), (2) late 2013-Jan2014 (last buying of Indonesian bauxite) and (3) in Oct-Nov 2015 (Malaysian bauxite flooding into China). We predicted the first two instances perfectly - we were caught by surprise in past 2 months. Everyone was surprised.
So, we are in limbo - and perhaps could be for a week or so - we simply do not know. Being at the wrong end of this food chain is stressful but it won't last too much longer.

If you have any better ideas, we are all ears.

Regards
Ian Levy

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The only better idea I have is we should be hearing this via a formal ann to the market not a personal email posted on a chat site.

ABX Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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Shareholders Losing Patience, page-37

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