the trough, page-16

Hi Tewks,

I thought Fergus had done some revision incorporating Corridor Sands

"If its a a 240tpa plant , my view is we are perhaps looking at several multiples of todays price (perhaps even 400% - 500% or more) based on extrapolations from the figures of the 60k plant"

I think if we take Fergus's calcs as the base from which the company would negotiate a price then the extra's on top of that will come from the knowledge within BHP of how they can use all the extra's.

The big question is how much they value the DRI to me that is the big unknown. Then add agglomeration and WIM, how impressed were they and would they add premium to APG's value to BHP.

I like Fegus's base to start from and if the company is negotiating I wish Mike a gilded tongue and overpowering charm to tantalise BHP building the picture of a stunning future using APG technologies.

:)

Seik