The Business

Noel Yeates of Macquarie Private Wealth had this to say about BC Iron on "The Business" last night with Ticky Fullerton:

TF: What about iron ore stocks after that price capitulation overnight? Now, BC Iron seemed to say all the right things at the AGM but it's shares got pelted.

NY: It really did and most of it was to do with one-off issues and they are really on the production side. It's one of the few companies that can actually turn a dollar at a low price, but they've got some very real issues in terms of production. They got a broker downgrade today, then got beaten up and really they're down a mere fraction of where their former price is. But I think some of these stocks now are looking cheap to some people and I think that the discussion around is how will they consolidate, where do we go to from here as an industry almost in iron ore as opposed to where does each individual stock go. But yeah, not a good day for them and that's to say the least.