To be brutally honest directors should forget about Southdown.
I believe it to be leading to share price destruction. Cutting the dividend last year instilled fear that GRR was about to commit to Southdown startup and at the same time needed more money for the Tasmanian mine expansion.
I am just tossing around some of my thoughts on the crazy share price drop from $1 in the last year.
Nobody liked the idea of Southdown years ago because it simply costs too much to get up and running for low IRR.
The Chinese (the guys with cash to invest) are not going to waste their money on Australian iron ore mines anymore as they can get more benefits elsewhere ...like Africa for instance.
Everyone can see the large names in Aussie IO are not interested ...so why should we get into a situation where we are beggars for high interest loans?
The board should bite the bullet and shelve Southdown.
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Price($) | Vol. | No. |
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