I thought it may be to do with all the magnetite miners creating an alliance to fight the Resource Super Tax.
I was at a talk by one of Clive Palmers mates the other night. It was upsetting to hear how damaging this tax will be to Investment in Australia. The government bureaucracy is doing nothing to help australia prosper.
Hopefully the alliance has brokered a deal as magnetite ore is worth didely squat when pulled out of the ground. Article was in the Australian.
Development is gettting harder every year and australia.
AGO Price at posting:
$2.45 Sentiment: Buy Disclosure: Held