Geezer's price target of $2.25 is actually very conservative. I...

Geezer's price target of $2.25 is actually very conservative. I would have thought sub $1.50 is actually more likely.

Word from insiders at Rio Tino suggest they are expecting Fe price of $80/tonne to occur within 3-4 months. They expect this level to hold (or go lower) over the next 12 months.

At that price, FMG becomes a marginal producer and their operations will be put on care & maintenance quicker than you can say "Twiggy should have sold out at $13".

Scary times ahead for iron ore and the WA economy in general. FMG may well become a horrific symbol of the WA mining boom collapse when we look back on these times in years to come.

I hope Geezer is wrong, and I certainly hope that I am also wrong, but the fact of the matter is we are not wrong, and we will be shown to be correct in the very near future.