September quarter predictions, page-37

Hi Andypossum

There was a slight pull back in the iron ore price. Today other iron ore miners are also down a touch.

For a little guidance on how the iron ore miners are going to open each day, I check out the iron ore price forum on FMG, in particular see what convexity posts each day (before the opening bell) regarding overnight movements. He gets it right more often than not, very useful information.

Of course there are many reasons other than the IO price that can influence our SP. Dow being down last night does not help.

As far as low volume goes, I see it as a good sign that citicorp has finished its selling, and that MGX holders are being smart and holding tight.

There is plenty of reason to hold tight, as our cash position is building rapidly.

We are extremely fortunate to have Miningnut, an experienced accountant, on board, who provides us with quite accurate predictions . . . for which he estimates the cash position to be $289 million on 30th of this month . . . up a whopping $119 million in just 3 months from the 30th June.

We should easily surpass $400 million by Christmas . . . which is not that far away.