Ann: Operating Licence Granted, page-16

morning all.
I posted this on the FEX board. It’s relevant here too, but as we’re not yet in production, maybe less so. Be interesting to compare FEX/TI1 prices next week. TI1 certainly held up better last week.
cheers,
ned.


Morning all.
a further 5% fall in IO overnight to below $200. That makes 11.6% in 4 days.
part of our strong run up was on the surging IO price, so it’s not surprising to see the reverse as IO retraces. I’d expect all the emerging IO’s to be softer on Monday.
doesn’t change the story, although obviously profits/cash will be lower, but as I’ve said before, I’m happy with anything above $130. I suspect $150 will also hold. But who knows.
key is to make decent profits and as much cash as we can, to pour into expanding what we have now, within current tenement, plus the JV ground and hopefully new areas the company acquires.
May/June was the normal period when IO goes lower. Maybe we’ve just started a bit late. The good news is July/August is the strongest part of the year. Might be a good time to squirrel away some profits?
heres that chart again:
https://www.*.com.au/iron-ore-price-seasonality-2018-1

don’t know how low we’ll go, or how long the retrace will take. I’ll be looking for opportunities to acquire more lower down.

as long as the IO price doesn’t totally collapse back to historical lows ($40-60), we’ll be fine.
I except a lot of nervous nellies, will bail.

cheers,

ned.