hi all: i just sold all my tty. was painful and big loss but...

hi all: i just sold all my tty. was painful and big loss but lets face reality its a high cost producer, spot market is slightly above tty costs and with massive closures of steel mills globally there is a surplus of iron ore. the prospect of $50/t profits are likely to be gone for at least a few years. IMO at best tty will limp along and disappoint. At worst TTY wont be able to sell its ore. thanks to MK its balance sheet isnt strong enough. as for takeover - who would buy this at this time? noble? i suspect they'd only move if tty collapsed i.e <5c and even then who knows. im not trying to upset anyone - just my opinion. i do note that Noble recently said demand is picking up in China but lets face reality: RIO, BHP and Vale are all admitting things are slowing and the date for the recovery gets farther and farther out with each announcement. does anyone really think the world can boucne back from a banking lockup in less than a few years? with luck we wont have a depression but this downturn will likely be the worst that any of us have or will see. please understand i dont want tp upset any remaining holders but in my experience in markets hope will only lose you money in this type of environment. good luck to remaining holders.