trading joke, page-21

Because RIO is among the lowest cost producers in the world...
It'll make a profit while most won't if iron ore was to tank it.

This sentiment can change in an instant. Ie FMG last year. Remember that? Expansion stopped and 1000 contractors/employees axed. Now it's back on as iron ore rallied.

BHP isn't going ahead with outer harbour, that was 20 billion. AQA, canned the west pilbara project, although I doubt AQA could have funded it in this environment anyway, well not without selling down its stake. List goes on.

All I'm doing is showing the alternative view. If iron ore stays at 130 a tonne, then GBG is cheap as chips. As with FMG and AGO. Problem is the market is saying it won't, hence the horrible value attributed.

Indicators such as the PMI put more nervousness into the market. When will Chinas growth end? No one knows! Wish I did. Look into Chinas ghost cities if you haven't. Scary.