It is a great opportunity to buy more IMHO, it will be interesting to see the reaction of the market when the September 4C is released. After tax and divvies to be paid out of the September 4C profits, the company will have ~$48mil cash clear in the bank account.
The next 6 months are going to be choppy waters for IO, and I think we’re aware of that, but what goes up and down so quickly like we’ve seen for IO has every possibility to go up again just as quickly.
Supply is definately starting to contract already, although minor, it will be interesting to see if the big boys drop a bit of supply to help the IO price, or increase production to try and wipe out the smaller competitors.
GWR has gone into a trading halt today, they could be going into C&M after VMS did last week.
Price of Iron Ore, page-395
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Last
39.5¢ |
Change
0.010(2.60%) |
Mkt cap ! $274.3M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 39.5¢ | 38.0¢ | $607.3K | 1.561M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 69556 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.5¢ | 38158 | 3 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| FEX (ASX) Chart |