io price doom and gloom overdone, page-53

what IO average price is that FY14 gearing reduction based off? Every day that IO sits up this high FMG is absolutely minting it. The longer it stays up here the bigger the short squeeze is going to be when it comes. Current SP has baked in a steady decline in IO over the next 24 months I think. Now I don't profess to know where IO is going but if it doesn't decline as anticipated then FMG will be off to the races. My conservative estimate is that SP > $5 if IO > $120 at end of CAL13. If it stays at $145 for the rest of the year then $6 would be very cheap.

By the way, I tend to hate the relentless up ramps that are found on HC so I will add that i think the "catch up" argument is a poor one and I actually view the fact that resources are lagging as a negative going fwd....ie i don't expect the under performance trend to mean revert without fundamentals following suit.

Good luck to all and make sure you're diversified. I think that will be my message on HC as too many people are playing craps (casino, not swear word).