if this does go to a salvage sale @ $1 its 50% discount to net assets so their is still value here for a fire salvage sale.

if management are prudent they will be looking for a partnership with nml & tata that option is on their doorstep & tata need the ore for europe.

no need to wait for april 2013 gambling on ore price being above $120 management have an opportunity now to give up their independence & tie in with a bigger player