Abterra -- Good deal ?

Oh? I thought it's not exactly a positive sign if your shares are loaned out by broker or SGX. I would expect that the shares have gone to somebody who wants to short the stock!

Anyway, if you read Abterra's full-yr results media release, it does sound optimistic because it has recently secured iron ore ops in Indonesia. Abterra (6 cents stock now) is gonna ride on the strong growth momentum of the Chinese steel industry.

The economy is booming and needs lots of steel. China is now the largest importer of iron ore in the world. The company's statement was : "With trade facilities in place, alongside the equity line of credit that the Group has recently secured, the Group expects healthy growth and expansion of its trading capabilities, exploiting the growing steel industry in China, barring unforeseen circumstances. In view of the rosy outlook of the steel industry and greater clarity in regards to its mining acquisitions, the Group is cautiously optimistic of its prospects for FY2010."

with CEO buying from open market so often, shorters will be out very soon, after that, all the positive signs will be seen... haha

I\'d load up more before it runs up like HongXin. This company also wants to list in HK.

Why if not for a positive outlook? Again, last night, Abterra announced that on Mar 29, General Nice Resources bought another 9,744,000 m shares of Abterra. Spent about $585,000.

Abterrra owns stakes in 3 coking coal mines (which produce iron ore) in China and an iron ore processing facility in Indonesia. Is the company likely to benefit from the recent change in pricing of iron ore - from annual pricing to quarterly pricing of iron ore imports? Think so. From what I read,iron ore spot prices are double what the annual contract price was. The new system will see iron ore prices nearly double in the short-term and force steel prices up by as much as a third.

Makes one wonder why they can\'t even get the listing rules right..and yesterday there was another S-chip co with a reported 2008 loss announcing their dual listing on HK bourse!