peekaye, I can answer your question with two words. Labour Government.
Throughout the world the market is driven by many, many things. One of them being Sovereign risk.
The voters in Queensland will vent their spleen tomorrow and elect the LNP by a margin that hasn't been seen for decades. One can only hope that that will continue in the very near future and turf out a Federal Government that is quite possibly the most inept, useless bunch of dimwits that we, as the people, have had to suffer.
Here we have a government that is imposing new taxes on miners whilst giving away 1/4 billion dollars to an American company so that they can produce cars in Labour strongholds.
It might be well for the likes of BHP, RIO and Xtrata to pull up stumps and move overseas, however for the many, many smaller operators, this is not an option. So for the Federal Goverment to impose the latest tax and expect to create a windfall, then....... Hopefully the next federal election will see these imposters removed for a long, long time.
Enough said.
KZL Price at posting:
14.5¢ Sentiment: LT Buy Disclosure: Held
