iron ore sales, page-8

Lots of small trades. Cannot see that any fundamentals have changed.

Looks like price manipulation to me - down most of yesterday only to finish up 5c at the close and then a drop today on low volumes. Not sure what the motiviation could be with still such a relatively tight register.

Add the cash from the last vessel to sail in March to the $99M cash we had a end of 1/4 plus another good quarter where the $A is starting to cushion the downside in ore prices and it should be a good annual report.

From my reading of the quarterly, management were budgeting on a relatively large production spend in the June quarter which should mean good volumes.

Heopfully a blip.