Amazing news on the Westpac website about Business Activity and that Mining has been driving profitability!
This will be a massively positive affect on companies like Territory Resources!
Profits rose 18.9% in the June Quarter, thanks mainly to mining!
"A staggering 62.7% increase in mining profits for the quarter" pushed up the profit numbers for the entire ASX!!! This is set to continue to grow!
" Australia is in the midst of Commodity Boom Mark II" Love the sound of that!
Have a look at the terms of trade and mining profits charts, they are almost vertical!!!
The only thing stopping these mining shares from climbing is timing. Once all this money starts to get reported in the next two quarterly announcements, and the US GDP growth actually rises with employment growth in Q1 2011, the ASX will lift like we saw in 2009!
http://www.westpac.com.au/about-westpac/media/reports/australian-economic-reports/
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