finance, page-12

thanks n_terra,

i read this in bloomberg yesterday but it does not all add up imo.

so chinese ore stays in the ground, whilst china buys mountains of ore from overseas and all the time it's cheap enough to do so ?

then we'll find marginal mines simply stop producing, simply due to costs and lack of profit.

balance comes into play and production meets demand. price will level out and the non profitabe mines fall by the wayside.

hang on a minute tho. shipping companies are not that stupid. demand is there for them to screw the deliveries and get back some money after past yrs shortfalls of profits. the ore is cheap but overall it will not be so much to the buyer. not with these shiping costs going sky high.

ironclad should never have bought that barge. a panamax maybe but not that barge lol.

we are in the wrong business at the wrong time. TWICE ha ha.

nope.

maybe we'll need to sit it all out just that bit longer. there is a mine. it has (we are told) quality product.

this is a time of fear and time to buy certain stocks. however, they need to survive, to be there for when the better days return.

this is where we are at.

we'll survive as long as costs are strictly controlled and that for me means no horserace sponerships.

oh and the aussie cannot stay up with iron ore being slaughtered.

impossible imo.

85 to the usd
195 min to the gbp

aimho of course.

hope all is well n_terra. often think of you. i'll be back in brissy hopefully oct thro to jan. new pad and all that stuff.

trf and ife permitting ha ha.

take care,

40.