This news that's breaking on Reuters right now about a newly launched Chine iron ore mine with 1.6 million tonne annual output that's flooded will only add to the increasing global shortage. We'll see the price of iron ore smash through US$100 a tonne tonite.
Add to that a falling Australian dollar and that Final dividend to be announced in August just got a little big bigger.
My prediction: 20c - 30c a share.
Chinese Iron Ore mine disaster today
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