hedging at under 24000 per tonne, page-18

Entropylord,
I'm with you on the sidelines and just might buy the bluesky at low 60's. I just got off the phone with a broker I have done business with from pre-1987 crash days. He reminded me not to underestimate the savagery of a rampant bear market. He said AGM in the low 50's is not as far fetched as some would imagine. The ASX would have to come off around 15-20% for that to happen and is extremely unlikely but I remember saying the same thing in 1987 and then lo and behold got a severe haircut. A lot of current stockmarket investors have never seen a bear market. In bear markets, investors flock to safer high yielding stocks or cash.