Best to hold AZR as it gives the most options - once converted...

Best to hold AZR as it gives the most options - once converted into MGX it is irreversible.

positioning of Russians / Chinese means a consolidation / take over will happen of the full group unless bottom falls out of Fe market - unlikely.

however this will take several months more to unfold, and in the meantime production from AZR will boost the sp.

Limited downside in holding - considerable upside. In the longer term AZR is worth 50c, so it pays to wait a while.