RE: Conference Callconference call is a joke.
nothing new was addeed to the news release - it was basically read verbatim.
no questions were allowed from the floor - only from analysts
almost all of the questions are being asked by Peter Campbell from Jennings Capital... how convenient.... did anyone else listen to this bozo - i dont think he is even sober. just listening to this Peter and knowing he is really working for NML makes me want to sell every share i own. he asked nothing that went further than what was in the newsrelease
second question was by Credit Suisse, their US brokers.... the question of any relevance here was, after the 21 months feasability (of course it wont get delayed!!!) was done and if Tata approved, how long would it take before production started - answer about 3 years. so, you are looking at approx Jan 2016.
third question was from BNS, basically a repeat of what was in the newsrelease.
fourth question was from Campbell again.... his question dealt with production.
fifth and last question again by Credit Suisse, dealing with capex numbers....wanted to know how these numbers were affected if iron prices declined. Martin says yes, there is flexibility in developing a smaller operation if prices were down. Martin emphased that Tata's Euo operations needs this iron ore - it has no other source.
also of note:
$600,000 has yet to be paid by Tata... geez, how cheap can they be?