Hi Peak,We seem to agree on the first point: Miners don't take...

Hi Peak,

We seem to agree on the first point:

Miners don't take it out of the ground for free, it costs an awful lot of money. So much so that many struggle to mine profitably. Occasionally a Resources Boom comes our way and big money is made, until of course the Govt steps in an says it wants 57% or whatever in the good years.

As for the second point:

I see Banks as a service industry, who as you say make very healthy profits. My point would be that while they make good profits they are not the creators of wealth like a healthy Mining, Manufacturing, Primary Industry etc.

The USA thinks it can grow wealthy on service industries alone. I think individual companies can, but not the Nation.


To get more LYC specific.

I sold half my holding of Lynas today. Not because I don't like the company but because I needed to free up some cash

Obviously I am still hold the remaining 50% , so I hope the people who bought my shares make a lot of money.

Shares I bought last year @ 45 cents. So it could be better, but it could be worse.

My originals go back to 2005/06. We nearly made big money on LYC but the GFC stepped in at such a crucial time and we lost financing.

I had expected the market to rally again, but as the weeks rolled on I began to get uneasy.

Europe having a little rally tonight, but it all seems to be getting a little messy.

Anyway regards to all. I suppose we need to have a foot in each camp. We cannot predict the future.

Jim.