adelaide bank will sink and take bendigo down, page-12

I don't disagree with what you are saying in your previous post per se 40...I just am of the belief that there has been a shift in the demand and supply curves of recent years which, when a serious commodity down turn does occur, will not endanger high quality producers. Ultimately, if their marginal OPEX remains low, which there is no evidence to suggest won't happen, then there will be a good deal of insulation in their earnings. Naturally, the share price will decline, but in the long-run high quality producers won't collapse, they will provide buying opportunities to those of us with cash. A good example of this buying opportunity was when the market declined 7% on the 22nd of Jan, Sally Malay a high quality nickel producer was trading well below NAV...this made no sense, and as such the SP has returned to a more reasonable level of 4.9-5.1.