spoke to ceo - luke tonkin, page-54

Dac - I agree with you. This is a game being played by the Chinese to get their hands on the company at discount prices, there is no way they will let the company go bust. They want to mop all the IO players so they can bypass BHP etc.
We still have until the 29th of December for another party to come in and have a crack at it but should that fail to eventuate I for one will support the rights issue though not sure I will buy more stock at 60c when I can pick it up now at 20odd cents. Yes it will give the chinese a larger stake but they still don't control the company and would still need to make a take over offer if they want it all and it's really down to you the shareholder as to whether you agree with the offer.
The short term looks pretty bad but the mid to long term looks great. What are they going to build their railways and skyscrappaers with ? mud ?
I'm just going to keep accumulating at these levels, real slow with the little I have left. It's possible the US transition of presidency is prolonging the pain as we have to wait 2 months before the new mob take over. Best thing that can happen is that Paulson goes and we get a new guy.