iron ore price, page-99

Er6n

Even though I suspect your well intentioned agenda is to warn the inexperienced traders of the dangers of listening to ramparts .. I also take it that you trade short-term so you have a different perspective to a long term investor.

Having said that it was VERY obvious yesterday which stocks the market sees as the most vulnerable to a lower IO price ... FMG and AGO. But for different reasons. For FMG it's debt servicing and AGO it's cost of production. In some ways FMG operates like a property speculator needing more and more production to fund debt. Happily AGO is cash positive and the argument that it losing money at current prices because of D&A is as someone else commented disingenuous and very short term in its thinking.

H