Oops. Kelvin. As in Kelvin(ator) February Category 2 cyclone when straight over Nifty. . Area flooded "greater than the state of Victoria" in northern WA. Followed weeks after another biggie in January which created conditions for cyclone acceleration inland-seas of warm water. Have a look at ABC weather. Its all there now. It got STRONGER as it travelled over flooded plains.
So I was hoping for a much better quarter in March that December. This will put the kibosh on that. A lot of roads will have been impassable, for a long time, I'd reckon.
Two terrible events in a row for Nifty in six months. Output pre committed with derivatives, which subsequently cannot be delivered, twice? Thus the need for quick cash and the sale of Kalgoorlie assets.
This explains then why the SP has stayed down. It does however create an opportunity if you think bad things don't come in threes. Think there have been three already. expect March Q bad news. Also expect recovery in June Q or 2nd half of year?
Starting to wonder if Nifty is jinxed.
MLX Price at posting:
86.0¢ Sentiment: None Disclosure: Held
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