Yes it is a joke. But nobody is laughing.I do not believe it is...

Yes it is a joke. But nobody is laughing.

I do not believe it is anything symptomatic of GBG specifically.

I think its over all market sentiment that is hurting the smaller Iron Ore miners. The money and belief just have not come into the sector with the recovering Fe price.

Consider this chart below. It shows the last 12 months Iron Ore price compared to both BHP and RIO. Notice a close correlation? The Fe price dropped BHP and RIO dropped and when the Fe recovered so did BHP and RIO substantially.

Now look at FE price over the last 12 months compared to FMG and AGO. Notice that FMG recovered substantially more then AGO?

And finally the Iron Ore price over 12 months compared with AGO and GBG. Very similar no?

It looks to me as though the market essentially went into the big producers when the Iron Ore price recovered and essentially steered clear away from the smaller miners.

A possible number of reasons to that I would assume. Draw your own conclusions though.

In the meantime I'm suffering with everybody else and hoping for a change.

link for chart http://www.bloomberg.com/quote/MBIO62:IND