Loki,
Magnetite can only set a floor price for haemetite well above it's cost of production. Haemetite producers can only gleefully watch their high cost competitors develop a high floor price for their commodity. Never fear your competitor with intrinsically/structurally much higher costs.
When you are looking at forward PE's, I really do not believe you are giving due recognition to volume increases.
I am never going to see BHP as the best mineral investment, but as a sound piece of diversification, imo it represents good value around 40 to 42. Perhaps the chartists can get it for 38 or less (then sell for 39!) - lets see.
I like the BRICA story, a lot.
EL
buying today, page-15
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Last
$43.80 |
Change
0.370(0.85%) |
Mkt cap ! $222.2B | |||
| Open | High | Low | Value | Volume |
| $43.46 | $44.42 | $43.33 | $264.8M | 6.047M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12 | $43.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.80 | 13551 | 1 |
View Market Depth
| Last trade - 16.10pm 14/10/2024 (20 minute delay) ? |
| BHP (ASX) Chart |