With the constant price surges of iron ore obviously not being able to be sustained the price of iron ore and many associated metals apparently have taken a breather. Not because China is in any recession but probably China has aquired too much in reserve and has halted buying. (And on some report its growth number of business is still 7-8% anyways) So lets say May 2010 was a good correction month and apparently some balancing has appeared at the begining of June.
Spinefex is on target but obviously the price of MOL has reflected concerned interests having a holiday in buying in Frankfurt, Toronto and Sydney.
Most anticipated rises in MOL probably will occur once more news comes from Hanlong as to progress to Port Headland export facility. Im still looking forward to any news about Hanlong longterm future plans as to their $5 billion infrastructure plans also. But again they will drop that on us out of the blue together with the US$500 million facility now also somewhere there in pipeline.
MEGA best buy potential stock still for now with all they have going and in the ground but as always - no income and production still a maybe stock to the BIGS.
MOL Price at posting:
64.5¢ Sentiment: Buy Disclosure: Held
