Iron ore stocks have been bullish. FMG is up again strongly today, and has clearly broken out to post 2008 GFC new highs.
Yet IFE and TRF languish. Why is it so? Their iron ore story is now well and truly out there in the market. I would have thought their share prices would in some ways reflect the very bullish views and announcements of Management on the project. With all the bullish talk by IFE surely the feasibility report due to be released soon will be extremely positive? Yes?
Lingering at the back of my mind is the thought that it's happened before that companies talk up their projects and then the feasibilty report when finally released puts a damp squid on it.
I'd be staggered if that happened here in view of what we have been told about the "crystalline" quality of the magnetite resources planned for direct shipping ore - plus out of pocket big time - but I must admit, the low market caps of IFE and TRF and the lower drifting share prices in a now reasonably bullish market for ASX iron ore stocks does make me think.
TYX Price at posting:
90.4¢ Sentiment: None Disclosure: Held
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