Something Up?, page-2

I hope it is AG as the General Meeting should see some action...split the company. I wish I an equivalent number of shares in the mining consumable co. I bet the market would treat it as a normal stock with a average PE without fluctuation as the iron ore and steel part.

Consumables on its own would have a $1.5 to $2 Bill market cap if minimal debt is attached to it as it makes about $200 mil growing steadily and not much affected by the materials fluctuation. A PE of 10-15 would be the norm. Talk about value, the directors can not see it even if it was staring them in the face (the same can be said for the market and analysts).

Sell (to Aurizon) or pack the rail and port infrastructure in another vehicle for about $1Bill. Let the steel and recyclable provide for themselves (simplify and get more efficient to make ebit +ve as it is today), may even sell it or give it away for nothing. Mining can be stuck with the steel but slowed down at low prices and ramped up on consistent higher prices.

My take on it...

I hope the new investors will take the broom to the board. And some 'mortein' required too...