Whats going on. Why with $2.20ish in the bag is this...

Whats going on. Why with $2.20ish in the bag is this languishing.Will it drop below a buck. I feel for Holders because I believe that they took on risk and now have had the reward snatched from their grasp.
I sold at $1.67

heres part of an email I sent in Feb to an in regard to ARH it outlines my concerns at the time.

Start Quote: "I see your arrival on Hot Copper. My feeling is that no-ones saying very much because nothing very positive is happening. Even TerryL(TerryLeo local businessman has gone quiet).
I have not re-entered ARH.
Obviously a decision was made by me that I no longer wanted exposure to ARH. This decision was made by me and not driven by a requirement for the cash elsewhere.
I regret not bailing at 2.50 as it would have been a tidy trade.
I think you are looking for some reassurance and I am unable to give it to you.
My factors for bailing include

Market/world economy facing contraction.

Clive hasn't tipped another billion tonne in.Feasability timing seems to indicate this is not going to happen.

Economies of scale(Small)

No shougang no Deal.(All or nothing)

Feasability pushed out to June/July(from March)

Shougang jockeying to get a stake in Mt Gibson which was the original party that jilted them and forced them to look elsewhere(read Sherlock bay Nickel or ARH). What if Shougang can get ore elsewhere???

No-ones saying this cause the implications are just too big......NO GAS CONTRACT.Coal fired power station in the Pilbara WHAT THE (BLEEP)!!!!!!! wheres the (Bleep) coal coming from? Backloaded on ships from China................think about it.

All serious operations run proper deep water ports with stackers straight into the hulls. ARH are going to load onto barges then run out to the ships in the deep water.........double handling.Small fry thinking.

Direct reduction plant(GONE) its been tossed. Thankgod because hydrogen plants cost half a billion anyway. Proves that initial conceptual thinking was either crapulent or designed to suck in the punters.

Pelletising Plant to be in China......... (Bleep).....?

Clive Palmer was going to build a 5 billion dollar Steel mill at Cape Preston in 2000................ah it didn't happen and I wonder if the backers at the time escaped with their shirts.Even better Clive then decided to build the Mill at Newcastle and even negotiated some $200 mill off Bob Carr in Infrastructure......Yep didnt happen.

I used to work for a small mining company called Preston resources a long time ago. They had some ground at Marlbrough in Qld which was Nickel Laterite. Its never going to go...every major company has run the slide rule over this and walked away. Palmer has jumped on it. He's been spruiking it up in China. I fell sorry for the Idiots on Hot Copper who believe it possible to build a 120000 tonne Nickel operation there. Thats nearly twice as large as WMC when we were the 4th largest producer in the world.
Caruso(from ARH) is a Director of this Total (Bleep) waste of time. Hey the Nickels going to be difficult to refine and high cost but what about if all this is about is finding some Pastsy(like Citec) to cough up.

Look Palmers going to do all right out of Cape Preston. I thought my interests and the interests of ARH directors would co-incide. "Professor" Palmer is boasting that he has Billions of tonnes and on paper + claims he could be the richest man in the world...........(are the alarm bells ringing yet)? What about if Shougang walk away(from Balmoral South).........does this leave him with the ability to develop the deposit later and not have to share with ARH shareholders? He got the tennements by stalking the original owner and jumping on the Leases. He's got a black belt in business tactics.I dont know anything for sure...but it worries me.

Anyway those are my thoughts. These could go I mean really go if the Market gets irrational about Iron-Ore. My Early warning Radar went off,thats enough for me.......an exocet has never hit me yet. "End Quote
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