"This profit rate will barely cover a future 2 c divi and with...

"This profit rate will barely cover a future 2 c divi and with current IO prices the actual average quarterly profit will be even less assuming IO doesn't fall further"

Mate, iron ore has actually bounced pretty hard off its lows and in my opinion will stabilise closer to $110 a tonne but no-one knows what it will do so never assume anything. Also, the way I see it is that if the iron ore price does head north then the stockpiling of the ore will be seen as a stroke of genius. You are saying it's a bad thing and I tend to disagree. In the end we obviously have differing views on where the iron ore price is headed.

Personally I think the quarterly was a very solid result and once/if iron ore breaks the $100 a tonne mark I believe you will be sitting there wishing you had of got some at 16 and thinking what a smart move it was to stockpile their product. I am extremely happy with the parcels I have got at 15 and 16 even though I'm still down overall. Time will tell who is right.

I'll finish my rant with another quote from your previous post

"how about your previous purchases dude which without Doubt are under water as I am sure is your entire holding - misplaced confidence if you ask me"

Don't throw peoples losses in their face mate, very poor form.