why low price, page-24

I don't think the flooding in WA has much to do with the sell off in MGX and other Aussies miners. It is a very broad sell off across the globe. World's biggest producer of Iron ore Vale S A(Brasil) has had its share dropped by 10% the last 2 weeks. FMG also did not escape.

In my opinion, it is just the big funds adjusting their portfolios, due to profit taking or uncertainties in Middle East and also fear of a slowdown in China .It is not a meltdown. It happens every now and then - cyclical, so the market will look cheap and healthy again. Mind you, MGX has had quite a good run since Jan 2009. MGX had a similar correction back in April 2010 with far greater drop - 37%, only to recover very quickly after that.

China is going strong and its stock market performance is the best in Asia right now. The local consumption has picked up and according to the officials, will fuel the economy for the next 5 years.

We had the biggest Stock market meltdown(in our lifetime) just 2 years ago. It is highly unlikely we will have another one that soon.

I saw Jim Rogers interview last night. He is bullish and he thinks metal prices will go a lot higher in the near future.

Good luck guys!