Depends who you believe. Morgan Stanley predict no surplus supply til 2015, price average of $117 during 2014 and a tick up later in 2013.
At $117 plus pellet premium and cost of production less than $100 GRR is still doing very nicely.
And this assumes the AUD won't fall - but all the indicators are that it will - mining boom investment lower, lower growth and lower interest rates.
So any AUD fall is a bonus.
But agree that sentiment is very poor. How many times does the herd get it wrong? Who knows exactly.
sp = cash position minus ~20%, page-13
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Last
37.5¢ |
Change
0.010(2.74%) |
Mkt cap ! $434.0M | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 38.0¢ | 36.8¢ | $355.7K | 952.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 29999 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.0¢ | 61833 | 4 |
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