There is no doubt those who have sold their shares are sure losers in the weeks and months ahead.
Take a look at this announcement quite a while ago, Glencore announced to abandon its initial high production target and instead went for a lower mtpa in a staged development plan to reduce the CAPEX substantially and the market cheered up pushing up sp because they saw a more realistic and a faster route to production.
HIO sellers/gamblers reacted in a totally opposite way slashing sp down 75%. They couldnt be more wrong i believe.
350mil tons of high grade iron ore on top of the planned supplies is urgently needed to meet growing demand for steel decabonization. Where the hell can they get it from a few magnetite mines in the world? There is simply no where enough high grade deposits currently to meet the required need.
