Ann: Trading Halt, page-24

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gonegassed

13,783 Posts.

19/05/15

15:44

Post #: 15309068
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Originally posted by Gindaldan ↑

If GBG could mine and ship iron ore at 20 a tonne for all its dud magnetite prospects then it would probably end up producing 200mtpa+ just like every other Dick and Jerry who could. The supply would eventually catch up (as it has now) and the price would equalise out to a new low norm where the bulk of the market can be supplied by said cheap production.

IMO you're either a communist or have rocks in your head if you think RIO and BHP are responsible for the current down turn in prices. Price is simply reverting to a long term norm as a result of 100s of millions of tonnes of supply finally coming online. FMG alone has almost put 200mtpa into China... That's not to far off BHPs total production which it had been producing for decades...

Unfortunately like any industry this will flush out the inefficient and inferior producers. In this case: every single junior. Although these juniors only came about from an abnormal spike in the price of the commodity.

Think logically not emotionally.

Anyway that's all from me. Lost my skin a long time ago on this one.

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so the moral of the story is ..
to avoid over supply and Market flooding in the future ..Licence restrictions and Export Quotas should be set by the OWNERS of the Dirt being Dug up ..to stabilize Employment + Taxs in WA

ie; the GOVERNMENT of the Ozi People should be in control of supply ..not foreign interests .

GBG Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
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Ann: Trading Halt, page-24

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