Hi Rythex. I hope you are right that iron ore is in an uptrend i have a lot of money in mining shares (just not Grange I sold out and am waiting to buy back in).
But history says that the price will cycle and i am prepared to bet you that in the next 10 years the price goes below UDD50 and above USD200. Thats why i am cautious i love the upswing but i am always cautious about the downturn. Thats why i am a long term Grange investor (albeit out right now waiting to buy back in). I like their board. The board understands the company and prepares its balance sheet for the downturn but also during the last big upturn was prepared to release big dividends. I love that.
Iron ore pricd, page-38
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Last
27.0¢ |
Change
0.010(3.85%) |
Mkt cap ! $312.4M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 28.5¢ | 26.5¢ | $751.7K | 2.744M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 21231 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 106676 | 3 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| GRR (ASX) Chart |