a return to the golden days of ore, page-2

lets just hope MCC don't dream up another delaying tactic...

11th sept escrow account agent to be appointed to open account at NAB

MCC has 7 days to deposit $80 mill to that ac once they are informed of the account details....

can't take very long to appoint a escrow agent and for them to open an account

...so CFE should be making an announcement by Friday to say MCC has deposited the funds...

if not someone is dragging a huge ball and chain behind them


not hard to see from the lack of posts that many or most smaller holders have jumped ship....can't really blame them...this has been very stressful......


...........
it will get better

iron ore prices are heading back towards record levels.

China’s growth may be slowing but its economy is so much bigger now that each year it adds the equivalent of a Switzerland to its national output. That requires a lot of extra infrastructure.

China’s steel industry now is massive.Today, China boasts some of the world’s biggest mills.

it has rationalised, amalgamated and expanded

Slowing down output is not easy. Shutting them down is even more difficult and could be extremely costly.

About the only way a manager can cut costs is to stop buying ore and run down the stockpiles.
But this can’t be maintained indefinitely. Sooner or later the stockpile becomes dangerously low.
And if all the mills have run them down and they all resume buying around the same time, then up goes the price.

This is what has happened in recent months.

The price of steel in China has risen

Shipping charges have risen due to increased demand....

This mining boom is far from over......it will just look a little bit different...with more Chinese faces in the mining /production sector....but NOT enough to cover the China expansion demand......