95pc increase in contract iron ore prices

I heard today that a 95% increase in contract iron ore prices between China and RIO/BHP was likely...China has to come to party by end of this month I think otherwise RIO/BHP can hit the spot market instead.

This is big and I think would send all iron ore stocks for another run.

With EFE still capped at a measly $27 million, it is in a prime position to have large %age increases. Particularly when drill results come back showing they are hitting what they are targetting (and they will - imo this drilling is not exploration, its resource definition - just look at the photos at the end of today's announcement)

Cdchi1