Slaughtered AGAINFirst Greece, now Italy is killing us. Managements #1 son in Oslo is leading the dumping AGAIN. Down a further 5.39% this am, coupled with the 1.66% yesterday. This is the macroeconomics Anders spoke of, which is why we keep losing market cap. So, now we are down 21.07% since Jan./11. This after a few nice NR since Jan/ we've received final approval of our Sr. loans(Jan.26),Signed agreement with Metso for long lead items and basic engeneering for Kaunisvaara.(Feb.16), Mar.22 Sold Barsele(gold might have been a good thing to have when we have these unsettled times...good thing Management gave it away for pennies on the dollar, )Signed agreement with Caterpillarfor mobile equipment(Mar.28)Signed letter of intent with Swedish transportation Admin.Metso to supply mineral processing equipment(April18).April 27 NAU released a NR stating iron ore demand is expected to rise, Signed agreement with Poyry for engineering and construction. May 18- we announced a positive NPV of 934 million for Kaunisvarra, Signed agreement with Peab for civil works(May31), June9th we signed with Kurina Wogon to design new railway car, Formed a JV with Peab for managing the transportation of Iron concentrate to Narvik Port, Signed agreement with Fireweld for process water sytem. So Management has proven to be able to take our project forward technically, yet by "sleeping"with Pareto who continues to hammer our share we've dropped from $3.19 on April 1st, to $2.50 level today. Management put some cash towards promotion so the rest of us can make some money...not just your poor choice of lead brokers, who have made tens of million by cheap issue and their willingness to short our stock. Iron ore at an all time high a double in NPV and the best we can do is -21%in
the last 6 months. Disgusting. Keep up the great work of getting all Pareto customers rich, while alienating the rest of us shareholders.