nev power expects io to rebound over $120 soon, page-30

Selling assets to fund debt is always sign of fatigue! Having said that, at least they are doin something to react to their pilling debt. Banks ain't ur good friends when trends start to against the cash flow.
As the SP sunk further, FMG will be likely to re negotiate it's debt convenant.

The share price will speak for itself I supposed!

Also it's good this morning that BHP kloopers join the line with Nev and Albanese sayin he is also confident that IO will have to bounce By Dec but dint quote by what price.

"BHP Billiton Ltd chief executive Marius Kloppers expects iron ore prices to rebound by the end of 2012, saying he has “categorical” confidence in the price of iron ore, according to The Australian Financial Review.

Mr Kloppers, speaking to analysts in Sydney, said iron ore prices should improve, but added that the rapid decline in commodity prices in general meant he would shut or sell any money-losing operations.

He said Chinese spending on fixed assets is expected to improve, which would prompt the country's steel mills to bolster inventory and support iron ore prices.

The chief executive predicted the metal would not stay within the current $US80 a tonne range over the next six months."



http://www.businessspectator.com.au/bs.nsf/Article/Iron-ore-prices-will-rebound-by-year-end-Kloppers-pd20120904-XTMH3?OpenDocument&src=rab&WELCOME=AUTHENTICATED%20REMEMBER