can you believe this carnage folks, page-33

Guys, everyone is a bit unsettled by recent falls in SP. So I better just give my opinion.

I own AXO, GBG, TTY, SRK and FRS (all iron).

Being iron ore developers hoping to become producers, 2 major milestones are currently required

1. Funding
2. Infrastructure or transport
Unfortunately both require TIME to resolve - even for great management.

I know several iron ore miners are negotiating with banks on finance packages. Look at the recent write downs, whats the banks appetite to go and fund $1bn?

For SRK, they need BFS and progress to building infrastructure, I see funding and building phase take some time. But worry not, the equity injection helps with cash needed for debt financing. The quality is excellent and its matter of time for the team to deliver. And given current tough debt market, all projects will be delayed. Worry not, shortage of supply coming online prolongs iron ore pricing.

Ask yourselve this: even if SRK was at $3, given that you know the company is working towards a large scale operations, would you really sell? does it matter what share price is at the moment if you are not margin lending?