too many ships not enough ore ? , page-8

Just some thoughts on price movements today

JP Morgan downgraded their I/O outlook overnight - obviously not good for any I/O producer

And Cyprus impact on All ords is evident, further example of market volatility

Amidst all of this, GBG really just needs to hit its production target. The price may drop or go higher, but in my mind.. there isn't too much room for it to fall if it remains on track with production

Fact is, if GBG were shipping magnetite at 8mtpa - GBG will be 40-50c, if not immediately .. once the cash flows come out for June Qtr.

Miss the production targets, and down she goes.