Some sage advice on why not to buy hyped up shares in Iron ore miners who were making a motza at $240 or now $150 per tonne when the cost of extraction is about $30 for iron ore and long term price for it 10 to 20% over the cost of extraction. With U price still being at or in many cases below the cost of extraction. The significant reduction in supply and while every would be if the could be hypes the impossible huge start up costs for new mines. Those of us who have waited quietly for the long predicted price recovery have still a bit to wait.
The squeeze is occurring now and accumulation is adding the narrowing supplies as many now see the clear and present signals. Not today but soonIntersting to note the cost of extraction for iron ore per tonne is reasonably close to the PDN estimated cost.
uranium news, page-200
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Last
$15.88 |
Change
-0.410(2.52%) |
Mkt cap ! $4.744B | |||
| Open | High | Low | Value | Volume |
| $16.17 | $16.26 | $15.79 | $20.91M | 1.311M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2800 | $15.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.90 | 75701 | 8 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$15.90 |
Change
-0.410 ( 2.32 %) |
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| Open | High | Low | Volume | ||
| $16.13 | $16.24 | $15.80 | 258623 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| PDN (ASX) Chart |