another ship, another dollar?

I have to admit that I was surprised by the market's reaction to what I considered to be a good quarterly report. As someone noted there was not much new in the quarterly but it is confirmation that GBG is continuing to build its production capacity in accordance with expected outcomes. The company has previously published those expected outcomes. Surely this is what the market wants to hear at this time.

GBG has no control over the price of iron ore and will have to produce at a cost which provides a reasonable margin. This does remain an open issue but there is nothing in the quarterly which suggest that this is not possible.

The quarterly does confirm that the ramp-up is proceeding as expected or better than expected. Puzzling indeed.

Perhaps the market will notice that yet another ship is tying up this afternoon and is due to leave with the 27th cargo to China on Sunday.