Just relax TB, if the shipping keeps going at this rate, everything takes care of itself. I'll send more detailed notes monday morning, but i think Mins may very well go up rather than down in spite of the shitty macro stuff.
Whilst BHP and FMG were down in the US Friday session they actually closed slightly higher than the Aus equivalent on Friday once you also adjust for the Aus $ fall.
Its all fine with Min and there is a long term re rate story going on here based on the performance of Onslow, which is now significantly exceeding expectations.
If you had no news between January and now, the stock was suspended between then and now, so it hadn't traded, and someone told you Onslow was averaging 35 m t pa over the last 7 days, they would say the stock should be trading in a $35 to $40 range, because they are delivering to plan.
The only real news between then and now is they've had to spend say an extra $230 m on the haul rd making it more bullet proof; and Lithium short term is a bit worse; most of the rest is noise.
MIN Price at posting:
$23.90 Sentiment: Buy Disclosure: Held
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