Recent price softening in IRN is entirely consistent with the prices of all the miners over recent weeks, and reflects the current view on China.
The approval process for Tampakan will be slow, but I doubt whether the price drift south is from people abandoning the stock due to the latest Philippines gov't announcement - which at least is in the right direction.
Volume has been light, which doesn't suggest mass abandonment.
I have a small holding in IRN and was not expecting a quick turnaround - I have a 5 year horizon on it.
Recent price softening in IRN is entirely consistent with the...
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