Not that I am trying to get caught up in the recent topic of conversation and which has dominated this forum over the last few weeks, the dreaded mining tax. Anyway I thought to again follow on from t91 with another chart comparison to test the assertions getting around on hc and in the press.
Arcelor Mittal are a closer comparison in size to our fmg at least on the nyse and versus the giant Vale. Look at these two charts, and see if you can see a detectable reaction to the tax implications. If anything, fmg are improving in this environment.
From the charts I have seen, they all seem to say that the market doesn't care about the prospect of a super-tax. That should be good news for everybody here. If the charts show something otherwise, I would say so.
