But definitely not $1.9m median price as you stated previous. Most of apartments in that area selling above $3m. Comparably, Point Piper is dirt cheap compare to Canada's Vancouver and LA. A nice house in Vancouver nice area goes for over CA$10m (about AU$10m) and no where near water. LA's Beverley Hills a nice house is over US$30m.
Anyway, may be large holder just avg down with $38,000 (1.8m more shares bought). Or Ansteel won't pull the plug. A lot of buyer, less sellers since "Change holding" announcement. Not sure who is right. Time will tell.
My view is iron ore will stay low for a few years at least. Many companies have debt (eg AGO, FMG) they cannot stay afloat. BCI suspended production, but not necessary will save money. IMHO GBG is the same as well. You simply cannot just suspend production because the cost maintenance even if no production is still very high.
Just IMHO
GBG Price at posting:
1.0¢ Sentiment: Sell Disclosure: Not Held
