why the sudden interest?, page-2

from the west australian this morning, i will quote a few bits and pieces - the full story at

http://www.thewest.com.au/20030707/business/tw-business-home-sto104044.html

THE administrator of the troubled Bulong nickel operation will push at a creditors meeting today for the project to be liquidated in a move that could cause Barclays Bank to lose a big slice of the several hundred million dollars it is owed

Before the administration, directors had been working on a new plan to source acid partly from WMC, Anaconda Nickel's Murrin Murrin project and imports. But this would add between $7 million and $15 million to Bulong's annual cost base and, because of the cost, is only considered a short-term solution.


without really knowing too much, but i do seem to recall, that rsg fell in price, when the trouble at bulong became apparant. it may have been something to do with rsg being a guarantor to some acid supply agreement. maybe , and only maybe, the reason why rsg are firming, is because if bulong goes into liquidation, then that solves the acid supply agreement - just a guess on my part. i am sure that rsg, are glad that they oflaoded the bulong operations to preston a few years ago