breakout and retrace, page-6

re: breathtaking Mining commenced weeks ago. The first shipment of ore is now at Port of Geralton and will be loaded and shipped to china just before christmas. About 2 million tonnes to be shipped in 2007. Price is about US$60/tonne. This means immediate cash flow for mmx. As the time for 1st ship approaches the price may strengthen even further. see the broker forcasts on mmx web site > $2.00. the current share price of $1.03 is still cheap IMO. But its not a short term trade. Also, iron ore price negotiations to begin soon - expect 7 - 15% price increase in April 2007.