In the GFC every wanka and his dog were quoted about IO spot price falling to $30 when it was at $70. They also said the mining boom was a mirage and the super cycle myth was all over.
Those wankas in fact were busy snapping up IO shares while you were scared sheetless selling and breaking out in a cold swear in fear.
Not All Is What It Seems.
Rule of thumb:
Always question who writes the article and the motives. Did they quote who those analyts are in the survey.
Also CISA is the biggest propagandist of all. Every time the spot price rises, they say we just discovered a 4billion ton resource and that they would increase domestic production.
The only thing they don't tell you is that the IO deposit is 3 km under the surface and that it may as well be on the moon.
GBG Price at posting:
50.5¢ Sentiment: Buy Disclosure: Held
