The company has recently acquired a new name, Rutila Resources. The new name reflects an increasing focus by the company on our activities in the Pilbara. Our strategy of strong focused company growth in the bulk commodity space remains a core ambition. We are optimistic about the outlook for natural resources despite the financial markets remaining a challenge, especially for the resources sector. We believe that continued urbanization in China will underpin the increased demand for commodities for many years to come. China is seeing consistent economic growth, and the first shoots of growth look to be appearing in Europe and the USA. Some price volatility may occur, but in general the trend remains positive.
It is in that context, our company continues to build on our foundations. The main focus of activity has been the Balla Balla VTi Magnetite project and associated Export Facility
located on the Western Australian Pilbara coastline. These assets are the company’s most significant for our future growth.
