I'm starting to think that current climate is not as bad as painted by the majors. There is still a demand for ore albeit smaller and all that means that if you have the resource and play your cards right you can strike a deal with a selective buyer. The announcement from FMG today shows me that the Chinese are quite happy to get their ore off the minors. BHP and RIO are painting the picture its the slowdown in economy that has caused their reductions when in actual fact its their own greed thats been their undoing! Sure there is a slowdown in most countries but in China I feel they are using that slowdown to there advantage for some payback to the majors. If they find the right people to deal with then all they have to do is say it will happen and it will. I would think our ports would now have room for others? I dont know its just a thought from way left field that maybe all is not doom and gloom for everyone. Instead of focussing on the negative BS that BHP and RIO waqnt us to believe maybe its time to sift through possible scenarios on a positive scale and see what gets dug up?
ps hopefully wont be long till I can change my disclosure...
UMC Price at posting:
37.5¢ Sentiment: Buy Disclosure: Not Held