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lightbulbnz

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17/11/23

16:46

Post #: 70968430
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Originally posted by hoaxthenerd2: ↑

That brings us to iron ore.

I’ve kept hammering the same point lately.

It was this: iron ore trading over US$100 is continuing to surprise everyone.

That is setting up some potentially ripping trades.

It’s just so profitable for any miner that can get it to market at this level.

Now what do we see?

Iron is brushing against US$130 a tonne!

This is a boon for the Australian government via higher tax revenues.

It’s great for the ASX in general because BHP, Rio Tinto and Fortescue make up so much of the Top 20.

It’s also great for the small-cap iron ore miners.

It’s up 14% since and I expect more coming. It’s just getting started in my book.

Of course, junior miners are risky and volatile. Things can go wrong. Iron ore could swan dive.

But this is happening at the same time the small-cap sector in general was down – until yesterday anyway.

Let’s combine the tale of these two commodities for the Aussie market.

Oil is not a big sector for the ASX.

You know the old stagers Santos and Woodside. Plus there’s a smattering of much, much smaller drillers and explorers.

For the rest of the market a lower oil price is a boon.

Iron ore, however, is vital to the direction of Australia and the ASX.

It may stay elevated for a lot longer than most people think.

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this post is weird

not sure what to make of it

VMS Price at posting: 1.1¢ Sentiment: Hold Disclosure: Held
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iron ore, page-2

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

ASX Market Open: ASX200 to rise for Friday session | July 26

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nine's staff strike as Paris Olympic coverage begins

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

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iron ore, page-2

Top Stories

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ASX Market Open: ASX200 to rise for Friday session | July 26

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Nine's staff strike as Paris Olympic coverage begins

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Featured News

Buyers (Bids)

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Featured News