Its all a bit strange
We now have an extra tug making five in total
There was the explanation of high swells due to south east winds delaying loading but there has been steady east to se winds for some time now which don’t affect the seas in the loading area. Strong southerly winds can cause big south westerly swells in the Weipa area as can winds blowing from the west but we have had very little of that weather in the last few Months
Perhaps the extra tug is to try and clear the backlog mentioned in the June update and get the production back on track for 3.5 m tonnes
A steady decline in share price then a sudden surge in buying I guess we will find out more in the next few days
I hope it’s only a game of thrones and we are not the 300 Spartans
MMI Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
