nonsense jc.
a) you are far too sanguine about what a commodity rout will look like,
i told crazypunter 8 months ago i think bhp could get below $20sp - rio will probably get low $40s.
the morons in charge of these companies dont understand price friction - this is exactly how bhp was 'forced' to become bhp billiton in the first place - expanding too fast in the 80s despite a relatively weak demand environment on the false presumption that lowest cost projects would make money even in the lowest price environments.
b) you have to ignore sell side analyst notes : they have a reosurces team the generates those values. that team will always have a glass ifs half full set of assumptions - otherwise they wont have a job
that is why you didnt see any major investment banks calling oil going to $us50 at $us100.
the only analysts you can potentially trust are the independents - not anyone who;s wage is in part suported by corporate finance
im so sick of economically simple people making millions because they wear cufflinks well
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