hrcka,
At current IO Price few will survive...
Especially those (most) with a depleting Treasury & high operating costs.
Even FMG & Hancock are trying to cope with razor thin margins
& big debt (imagine an interest rate hike should debt covenants not be met...whhh messy)
If the IO cartel keeps on with present strategy of increasing production in a falling market
(they missed School that day ..increase production + falling demand = lower Prices).
Depends how Long this goes on,
but one would imagine SHH has enough cash in Treasury to stay on care & Maintenace for a couple of years yet...
Who knows when the bottom of the IO Price cycle will be reached.
Me thinks there is plenty more pain to endure before the worm will turn in favour.
Good Luck,
S.G
SHH Price at posting:
3.0¢ Sentiment: None Disclosure: Held
