FMG WILL go ahead, (only in my opinion) - because IOH is now only one of the three (I stand to be corrected) last stand alone "smallies" in the Pilbara! Chinese or others (India?) could well eye it and it's attractions off - and if FMG don't go down the take up the options road - they forfeit a huge whack of a non-refundable "lay-by" deposit.
Then there's other peer miners - some of whom may be very interested in forging a connection/JV/takeover of IOH. The Ankatell port has now been given the thumbs up. But still no reason that IOH cannot barge as an alternative.
Haven't seen Fosters re-rate their target price - $3.00 currently, as yet - though they of course revise such targets at intervals according to prevailing or changed conditions. Perhaps they'll produce an update of opinion soon? Those who subscribe will tell us I hope. Surely if they shared such negative new sentiments they'd revise their target downwards promptly accordingly, giving reasons why, as would be required surely.
Whether IOH may even decide to become a producer from some of their project areas is a question to be asked. Lots of tricks in their bag. Surely more news and direction due soon in the 4th quarter with this one.
Stokes seems to be holding steady with his holding - if only we could know what he has in mind. But perhaps he's waiting and watching too.
It's the waiting - the general market atmosphere of fear bordering on panic - some analysts even predicting the big banks, BHP and RIOs could be in descent. Lots of stocks releasing excellent news - yet their share price goes down regardless.
With regard to any diggable resources - they all are not in limitless infinite supply. One day - decades to come - these supplies will run out. So who can put a price on them, really. And, at these ground floor bargain prices - surely it's a dream of a buy? Steel will always be needed around the world for endless new projects.
They are irreplaceable. And therefore, proven holdings are worth absolute king's ransoms, in the overall scheme of things!
I'm satying positive - holding - waiting to see what 4th quarter events/news comes up, for one thing.
None of us have a crystal ball. I emphasise this is just my opinion, for what it's worth. D.O.R.
Good luck to all holders.
IOH Price at posting:
83.0¢ Sentiment: Hold Disclosure: Held
