This one's wallowing in the "we're all going to die because China's about to fall to bits" prevailing (IMO misplaced) negativity about future prosperous iron ore market prospects syndrome.
Rubbish IMO! Even if China is just a cardboard cut-out mirage of empty malls and unleased apartment blocks - a giant Communist Government scam/front of "appearances" and jobs creation only, perhaps, - as some have surmised - other countries in the world are "forging" ahead - and they need will forever need iron ore supplies too - is China the only one who needs bridges and myriad new steel requiring modern and ongoing infrastructures?
Africa, India, lots of markets. Lots of world hunger for steel.
I feel we are so bogged down in negativity paralysis we cannot see the future in any rosier terms at present. No matter what the sector - seems we're all ultra pessimistic, unwilling to move an inch beyond frozen with (often misplaced) fear.
Given the prevailing dour political sentiment here at home, including this inexplicable attack on our mining "boom",which certainly doesn't do anything to help engender more positivity in the Resources sector - portrayed to the public as some sort of evil entity, able to spew forth endless taxation revenues, the ability to remain positive is heavily under siege. Inflicting emerging companies with a mining tax, moreso at this time in our world's financial cycles, shaky at present, is the absolute height of political insanity and class warfare viciousness! Why kick an industry in the guts when it's already down!
It's said we often get what we wish for. What I wish for is a more positive sentiment - we will survive, and thrive, once more. I'm holding this stock for better days.
IOH Price at posting:
83.0¢ Sentiment: Hold Disclosure: Held