Timing is always an issue but the present factors could all fall into place quite quickly:
Resolution of the Rio/Chinalco deal. Once done then Rio will be in a position to deal again which might trigger BHP/FMG
China being moved towards a reasonable IO price settlement imo
IO sector is underperforming resources relatively - buy low/sell high (never know how to attach charts to HotCopper)
JORC upgrade
New drilling results
All above will be positive imo - buy below $1.00 to at least double your money - timing - crysrtal ball does not reveal - yet
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