Fitza...you have alluded to your ideological political position in a number of posts, but thinking along these lines....
"So my point is, the big miners are just waiting til mid September, when hopefully a competent Govt will be elected. If so, I expect that will be the signal for the market here to 'recover' (i.e. the big boys will let the handbrake off)."
......is delusional at best...!!
Miners are mercenary when it comes to cash. I know this from dealing and working with them for many years. The MRRT didn't change much for the big miners.
I have spoken to a few people who think that their mining investments (shares, property, etc....) are going to turn around come September 14 and they are all kidding themselves. The sun will not shine brighter when the government changes on September 14.
The big boys never put the handbrake on because of the MRRT......the world capital markets put the handbrake on now that we have much more stringent capital hurdles to cross to get projects across the line......I know this because I do it every day!! All this means is that projects that were once a shoe in are now scrutinised to death and if the hurdle rate for ROI is not met when sensitivities (delays, overruns, etc...) are factored in then they just don't give you the money anymore!!
........and for the record I lean a little to the right as well :-)
GEV Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
