82 mc @ 40c, page-4

Excellently put, Snagger.

In times like this, it's very easy to blame those who focus on the current issue at hand and make comments amounting to 'game over', '30c is too much', and 'this company is worthless compared to other iron plays'. Not 24 hours ago was the sentiment very, very different.

Yes, an unfavourable announcement has come about. But is it worth slicing 45% off the SP of the company? Are you sure that the SP has fallen ONLY due to a fall in intrinsic value, and not as a result of stop-losses, down-ramping, bloodbaths down at wallstreet, short-term panic responses and an overall sense of hopelessness in the markets? If the answer is 'yes' to the above question, then I've just caught a falling knife that's about to slice me in two.

So let's clear our heads and look at the fundamentals. The news is bad, but not catastrophic. It's not going to send the company under. Once many people get the chance to have a nice dinner tonight with their missus and a good nights sleep, the sense of panic might wear out and we could have a bit of a rally either mid this week or the next, if not the next after that.

Patience is the key. When the market is cautious be greedy; when the market is greedy, be cautious.