Iron Ore in free fall - Perth property next!
- Thread starter grubar30
- Start date
LOL Busted!!
This is a pretty small project in the scheme of things .
Seems to be recovering quite nicely...
No it looks basically unchanged for two years and significantly lower than it was before that.
6mtpa off the top off my head, in combination with 4 other projects. It's not chicken feed, $150m odd never is.
The MB chart has a different scale, and different x and y axis, as well as different colour.
Of course they look similar - they both chart the same thing using the same data.
Seems to be recovering quite nicely from the lows below 90 to currently above 130.
It has actually recovered half the ground it lost from the peak... not bad considering all the gloomy forecasts.
although this is great its quite a small capex project at only $143m..
Having said that I have it on good word that Roy Hill secured the remaining finance to give the project a go ahead the other day. A contractor will be awarded package 2, being the rail infrastructure, in the next couple weeks with construction (site mobilisation) to start on this package around October and the remaing to packages being the port and mine infrastructure in first quarter next year.
Now if RTIO can give the go ahead for the remaining capex to complete there 360mtpa expansion, then the industry can ride this out to a soft landing. If RTIO can the extra work it will certainly be abit of a sign.
I didn't think Roy Hilll was questionable? packages have been being uploaded onto ICN gateway for some time
You mean apart from the different font, different date format, different start date...
You've just cut the top and bottom off the Y axis. The X axis is the same.
It was a shoe-in when the project was announced and ore was at $150pt+ but the project hadn't/hasn't (officially confirmed) secured finance and it had been reported that the project might not get of the ground with when the ore price dived last year.
The deadline for securing finance kept being pushed back and earlier this year I started hearing rumors with in the industry that the project could be suspended until "market conditions improve".
The packages where on ICN but this was only to obtain tenders to establish a budget and make a FID. Much the same as Grange resources had packages on ICN for Southdown 90km East of Albany that was suspended with only basic exploration expenditure being approved to meet the requirements to hold the tenement.
Ryangler has it right. The work to date has all been done on equity. Debt was still being secured - I don't know if they have actually achieved that yet. It would be a small miracle given the incompetence of the development team to date - and I don't say that lightly. I have never seen an infrastructure development so poorly managed.
You mean apart from the different font, different date format, different start date...
He he he.
Edit post much?
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For sure - I gather that around $2bn has been spent so far on this project. But all of it has been equity from the shareholders on "long lead time items". A large number of deadlines for gaining finance have gone whizzing by, which has meant more and more equity required to keep going with necessary development tasks. But they need the debt if they actually want to build this thing.
I hope they can get it and I think they will (albeit at relatively unattractive leverage and cost), despite their demonstrated mismanagement of this project to date.
probably still wallowing around after their dim-sum style feast at Wodjina getting 'free' ore.
eye off the ball and all that.
like hitting someone up for something urgent on a friday afternoon after a big pub lunch.
eye off the ball and all that.
like hitting someone up for something urgent on a friday afternoon after a big pub lunch.
It would say under the post if it had been edited, the forum notes post edits.
And the post had already been quoted by both tambourineman and hobo-jo anyway.
no one is paying attention, guys.
take it to PM and stop polluting the thread with your tiff.
take it to PM and stop polluting the thread with your tiff.
