Was at a function today. A speaker from Platts gave a...

Was at a function today. A speaker from Platts gave a presentation on iron ore pricing and usage.

He put up a slide with Australian Iron Ore miners costs.
Good ole GBG was there as the second highest. Prices were on a graph rising in $20 increments. GBG was between $100-120. Looked about $105. This figure included royalties and freight.

He also had a slide showing a picture of a pile of Magnetite. In the bottom left it was labelled Karara.

He didnt say Karara ,GBG or KML but just said said this was iron ore produced by a Chinese controlled company.

Interesting point of view.

WE may not go broke but doesnt look like at these costs we will make a lot of profit either. My opinion only.

Cheers
Gmac