Al1,
You really do go on. Carbon tax this, carbon tax that.
This has nothing to do with the carbon tax. There's a record amount of investment in the pipeline (I think about $500b) and a price on carbon has been known to the big players for eons. MCC (the other one - coal) got a $6b takeover offer, I think the day after it was announced. The list of deals such as these is long.
Alcoa is another example. The carbon tax has about the same effect as a 1% appreciation in the Aussie dollar. The dollar is about 50% above its long term average of 70c.
50% is somewhat larger than 1%. Perhaps you're barking up the wrong tree.
MCC (the Chinese one) bought at the top the market and the price of Fe has now completely tanked. A few clues there too.
I've no idea of CFE's chances of getting the $80m and who was obliged to do what etc.., but I do know it's got zilch to do with carbon tax.
Peter
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Al1,You really do go on. Carbon tax this, carbon tax that.This...
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