unfortunately I think Jorc is correct.
The topic of this discussion is not news though and obviously buddy is either new to GBG or just hasn't been paying attention. The impending "News" for some will probably have some negative impact on the share price for a while - but long term its still a good buy.
The chinese are locked into buying all the product and if China cuts back on importing Iron Ore - more than likely they will cut back at the expense of FMG BHP etc IMO
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