This was entirely predictable, the question is it just going to last the wet season or 6 months? Anyway good window for ABX to get established. The only problem I can see is rawmin has been stockpiling their own bauxite due to no buyers and whether the Chinese wind back up the smelters they idled due to pollution so the date rawmin is going to send a ship for ABX or is still up in the air a bit. Definitely worth watching what ships turn up at Berth 5 once the ban is in effect but could still be looking a month or two for a ship, I might switch some more funds to ABX but reckon still some time.
Reading the article about the contamination from the Rain for 3 years I see this as a major hurdle for MMI up north their river siding is all very flood prone. All in all I still think 2016 onwards going to be a rip snorter for bauxite minnows.
ABX Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
