Could the planets be aligning? Just found this on Commsec Commumity Board poted by "Promise": IRON ORE PRICES FORECAST TO SIGNIFICAN?TLY RISE Highly regarded, Morgan Stanley market analyst Joel Crane is quoted as forecasting the spot iron ore price to rise to $US177 a tonne in 2014....currently US$124...
Interestingly, in Australian dollars this is the equivalent of A$194 a tonne in 2014 if the A$ is maintained at current levels (around US91c)...
No wonder 2nd tiers iron ore miners (FMG, AGO and MGX) which have been shorted and oversold are on the way back....Promise
Let's hope that GBG also rides the new wave of positive sentiment, James the Cantankerous
GBG Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
