Nice post....
Our Market Cap is heading towards our estimated cash in bank at the end of Q1 reporting...... doesn’t make sense really...
Company has positioned itself with a safety net (Hedging) for the next twelve months....
Junior Miners going into C&M reducing market supply.... something we do not need to do...
Acquisitions and investments moving forward a real option in these volatile times...
China has played this beautifully and has demonstrated how powerful propaganda and the media (our media) can be...and gee they have played their part perfectly. Sixty minutes put the fear of god into many Australians... Too complex to start discussion here.
Ultimately, China will NEED Iron Ore. They are 3 to 5 years away from securing alternate supply under their control and a lot of investment and infrastructure to be put in place....
India, Japan and USA free trade agreements with Australia will add competition...
At what point is IO uneconomical to produce? The world needs IO, fact... hence there will be a price correction.
Junior Miners entering C&M reduce available supply add to the problem of keeping prices down...
China is not our only customer... explore new markets and create competition... they need us short term.. once they have addressed their clean air policy prior to Olympics they will crank up their industry to stimulate their economy, fact. The smart money may very well be in the hands of the bank with whom we hedged 45% of our production...not too many top 5 banks enter deals likely to lose them money..
Good Luck All
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