Copper before Iron Ore - CuFe Ltd., page-103

Noone said that CUF wasn't making a profit but it's so minimal hardly worth the effort. Nevertheless I would be the last person to say the iron ore operations should be put on care and maintenance but right now in the absence of some answers to increase profitability or a new resource other than Wiluna it's not a very exciting proposition.
As for 'headwinds' the situation in China is pretty grim - iron ore prices are fairly robust at the moment considering the present situation so I suggest old fella you better get your prayer mat out and hope for a few miracles that somehow the iron ore price defies current fundamentals -increases to boom levels and we can make a decent profit.

As for your comments about Guinea I will use your words -" I don't think RIO and Winning are stupid either investing about $40 billion in Guinea to produce a high- grade product -far higher grade than the Pilbara - already half constructed- to be exporting significant tonnages in 2025 if they weren't going to be very profitable'

You remind me of all the top CEO's of our nickel companies sitting there like kangaroos in the headlights as Indonesia wiped out our nickel industry. Guinea won't affect the Pilbara majors dramatically yet but over time will and I see the same kangaroos hopping around with their head in the sand ignoring the billions of tonnes of high -grade iron ore in West Africa -the Pilbara killer - that just like Indonesia will decimate parts of our iron ore industry. Of course we are in 1938 so WW3 will probably make this discussion academic anyway