Hi Rythex. I hope you are right that iron ore is in an uptrend i have a lot of money in mining shares (just not Grange I sold out and am waiting to buy back in).
But history says that the price will cycle and i am prepared to bet you that in the next 10 years the price goes below UDD50 and above USD200. Thats why i am cautious i love the upswing but i am always cautious about the downturn. Thats why i am a long term Grange investor (albeit out right now waiting to buy back in). I like their board. The board understands the company and prepares its balance sheet for the downturn but also during the last big upturn was prepared to release big dividends. I love that.
Iron ore pricd, page-38
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